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Non-Tech : Barnes & Noble (BKS)

BKS 6.490

0.0%

Aug 19 5:00 PM EST

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To: Ralph Cosenza who wrote (1404)	5/25/1999 2:15:00 PM
From: American Spirit	Read Replies (2) of 1691

Shocking. Poster was right that nothing can be taken for granted in the market. BKS seemed like the sure play. Today should have been over $40 regardless of the rest of the market. But IPO backdoors are now officially dead as a trading strategy, except as for adding a precise amount of market share. BKS is certainly undervalued here so there is no sense selling unless you're in a "dump it all" mood. The only consolation here is that the stock won't go down after the IPO as it's already back to pre IPO news levels. (and worth about $5 a share more in BNBN stock/cash plus being freed from the BNBN R+D expenses). While I am very disappointing I am holding. I had a feeling this might happen as Goldman Sachs and Merrill put the BNBN shares into the hands of longterm investors (not traders) and kept BKS out of play as a short-term trading vehicle. Traders wil now be replaced by longer term investors who see value here as opposed to hype. My apologies to those who listened when I posted that BKS was "as close to a sure thing as you can get, easy 20% within 1-2 weeks. Turned out to be about 40% wrong).

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