Dear JDN; I never dreamed I would be pleased to see this stock hit $2.00. Believe it or not I considered adding some at $1.50, because my TA told me this was a bottom. But with no other information to go on it was just too much of a crapshoot.
As you, I felt really betrayed when JJ with TAVA sold us out. I lost money on that one too. I truly believe these guys are just as slimy as JJ though. There isn't a CEO alive today dumb enough to be fooled, as we are to believe this CMND jasper was.
My operating philosophy has changed since I have been several times burned. I depend much more on technical data than before, and I WILL NOT RIDE A STOCK DOWN. My instinct told me to sell at $9.00 the day of the big drop; but I didn't want to tell my wife that we lost a serious chunk of money in 2 days on an investment, essentially, in the Indian government.
Like Bill Clinton, these guys are apparently betraying out trust. They don't deserve my loyalty. In fact they might belong in prison.
My sense of this market is that the best Y2k companies are about to turn around. They have good incomes and are moving to where the new action is, the internet.
Speaking of the internet, EBAY, $192 PE hit 8752:1 today. They made $.02 for calendar 1998. Revenue growth rate 724% by my records. Earnings growth rate 110%. That is a PE to Earnings Growth Ratio (PEG) of 79.
Yahoo, $173 PE is merely 1084:1. They made $.16 for the Trailing Twelve Months of 03/99, with a 1 yr. revenue growth rate of 196%, earnings growth rate 250%, for PEG of 4.
By comparison it is easy to find a Pillowtex PTX $16.63, 12 mos. earnings $2.51, PE $6.62, 1 yr. revenue growth 160%, 1 yr. earnings growth 231%, PEG .03 |
