Autobytel (ABTL) - Buy Autos online Message Board

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Technology Stocks : Autobytel (ABTL) - Buy Autos online

ABTL 7.020

+0.3%

Oct 6 5:00 PM EST

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To: peter michaelson who wrote (278)	5/18/1999 5:26:00 PM
From: Tom Hua	Read Replies (1) of 594

Peter, I bought ABTL at its IPO price yesterday (23) and doubled up at 22 1/8 today. As with any net stocks, I own them for short term trading purposes, not on fundamentals. I have a simple rule of thumb for buying "hot" IPOs aftermarket. My buy price is: BUY = x + 0.5*(y - x) where x is the offering price, y is the first day high. For ABTL, x=23, y=58. But I didn't buy at $41 because it wasn't that "hot". However, I'm willing to buy at 23, knowing that very few net stocks fall much below ipo prices. The CEO's interview yesterday gave me further confidence that a bounce is most likely in the near future. Regards, Tom

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