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Technology Stocks : AboveNet Communications, Inc. (ABOV)
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To: Epicenter who wrote (251)4/1/1999 8:48:00 AM
From: Brumar89  Read Replies (1) of 835
 
Epicenter, I am also not a day trader. I'm in ABOV at 25 and am gonna hang in for a while. The quick steep rise we've seen I reason may be due partly to short covering and partly to institutions getting on board by the end of the quarter. Now that we're in a new quarter, we could well see a drop back. But with there still being a lot of shorters interested in ABOV (see all those recent posts trying to talk people into selling) there will still be short squeezes to come. Plus as you pointed out, ABOV still has low institutional ownership. As that rises, the price will rise, further squeezing those shorts who don't close out really quick. At least thats how I reason it out. Will hang on for now, dips or no. What could get me to sell would be more quick big moves upward and a lessening in the posts by shorters.

Arguments about how many customers they have now aren't real important. These stocks sell on their potential for the future. And internet commerce and traffic is sure to grow rapidly. In regard to the ease of entry of competitors, there are companies who do well in fields with easy entry - example: AUD - take a look at a really long term chart (and I mean going back decades) sometime. Lots and lots of people can do the same things they do. Neverttheless 100 shares bought 2 decades ago would be worth hundreds of thousands today.

PS: Think I recall seeing your posts on SEPR - another one I've been in for some time.

The above is just my amateur half-baked opinion. Good luck.
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