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Technology Stocks : Pacific Internet Next HOT IPO?
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To: Belinda S. who wrote (636)5/4/1999 11:59:00 PM
From: patchman   of 912
 
Belinda, I once owned 1000 shares at 39 and thought it was a high price. I sold at 42 or something and the price rose to 104 during the next two weeks. A 30 to 40% retracement is not the end of the world for this stock. PCNTF has a very, very small float. If one or two funds decided to realign their portfolio to include fewer internets, this is what happens. Asian mutual funds are leading the pack and this stock will rebound. I've checked Dow Jones and Edgar and there is no bad news. I'm betting on 80+ again in a week. I'm long at 65 38 for 1.5K shares.
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