InfoSpace (INSP): Where GNET went! Message Board

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Technology Stocks : InfoSpace (INSP): Where GNET went!

INSP 127.35

-2.3%

Nov 26 3:59 PM EST

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To: Susan G who wrote (1473)	3/4/1999 3:19:00 AM
From: Trevor Quest	Read Replies (1) of 28311

Susan, I think you are right about the reason for the quick sell off. I would love to see a statistic regarding the average % of GNET volume and trades that is traded on-line. My guess is its high. No offense to anyone, because I am also one of them, but the average on line investor is fairly unsophisticated around trading. I think it is perfectly logical then that people might think high short interest is bearish and not realize why it can be bullish. Given the move right after the CNBC mention, I think it makes a lot of sense that some people hit the sell button. GNET has also had another amazing run here. If we are going to have a 50% gain in two weeks we have to expect a 20% correction as normal. I love GNET as much as anyone so I figure if I am tempted to sell some of my shares to lock in a profit and look to buy it back on a dip then short term day traders are definitely doing this! What do I think from here ($59 1/2)? I think most of this short term correction is priced in. We have already seen GNET withstand a wave of selling and I would be surprised to see a pullback through $53. Am I adding to longs here? No. Am I reducing my long position - absolutely not! Everyday that the market cap of the big internets does not decrease, GNET looks cheap on a relative basis. Even with a market cap of 1B ($80 a share), GNET is still 1/2 the market cap of SEEK and MSPG, a 1/4 of LCOS and 1/30th of YHOO. Too much good news around GNET. IMO still has plenty of room to grow! Trevor

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