Internet turn around...coming soon.
(Hopefully)
Here's another good article about Internet, the bottom and their trends:
"Third month
Smith said he happens to believe that investor psychology regarding Internet stocks will turn around in June, as companies gear up to release their quarterly results.
Smith, who admitted the severity of this latest sell-off took him by surprise, said he has noticed this so-called "third month effect" at the end of nearly every quarter.
Most sell-side analysts have been pretty quiet about making a public call regarding a bottom, but you can bet that few will be able to resist the urge for too much longer.
After all, about 90 Internet companies are waiting in the wings to go public, and the analysts' investment banking employers have a vested interest in seeing this sell-off come to a quick end.
The first to take the plunge was BancAmerica Robertson Stephens analyst Keith Benjamin, who in his weekly Web report said the Internet stocks are "close enough" to a bottom to "start to be more aggressive accumulating a broader range of stocks." Not surprisingly, most of Benjamin's picks are clients of BancBoston, including recent IPOs Modem Media Poppe Tyson (MMPT: news, msgs), Multex.com (MLTX: news, msgs) and NetPerceptions (NETP: news, msgs).
Though Benjamin stopped publishing his ridiculously conservative price targets a while ago, few if any analysts have really completely stopped trying to determine the appropriate valuation of an Internet stock. They've just come up with some different measures to try and account for the astounding growth most of the Web pioneers have experienced and are expected to experience."
cbs.marketwatch.com
Last month of the quarter, June, healthy correction for the whole market... hopefully we're coming out of the woods soon.
TD
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