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Non-Tech : E*Trade (NYSE:ET)
ET 16.51-0.8%Nov 21 9:30 AM EST
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To: Green Receipt who wrote (4149)1/8/1999 11:57:00 AM
From: RetiredNow  Read Replies (1) of 13953
 
No offense, but that's a singularly inane comment. In the long run, Compaq will see $100 too.

The real question is how much of a long run. Will it be 10 years from now or 2 years from now. This Internet valuation mentality is going to burn a lot of people. The damndest thing is that it is usually the retail traders who get burned because they are the last to know when major news comes out.

I just read an article quoting Amazon as saying that the increased revenues from this X-Mas is not going to make them profitable. That's because their margins are so slim, the scale required to make them profitable is still 2 or 3 years away. Yet, the stock's PE is in the stratospere.

So my point is this. Pick your stocks carefully. I wouldn't be a buyer of any of these stocks at these levels. If you still hold E-Trade, it's a toss up whether you should hold or sell. But if you are a very long term player (5 years or more) then E-Trade is sure to be one of the winners. They are doing incredibly smart and prescient things, while the Ameritrades of the world are content to follow along in stupidity. E-Trade will be bigger than Schwab one day.

However, I sold because I had a 200% profit on this stock in less than 1 year and I believe that hype is what is holding it up right now. The only stock I never sell is Cisco. E-Trade just has a habit of getting hyped then tanking, getting hyped then tanking, and so on and so forth. I'll be a buyer below $40.
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