InfoSpace (INSP): Where GNET went! Message Board

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Technology Stocks : InfoSpace (INSP): Where GNET went!

INSP 117.19

+30.4%

3:59 PM EST

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To: robert duke who wrote (6465)	5/31/1999 1:07:00 AM
From: Blue Snowshoe	Read Replies (2) of 28311

Robert, May often is a stinkolla month for internets and June is a good one. If you look at any chart of any Type 1 internet (a company WITH earnings) one thing is very clear. They all correct 25-50% every few months. They also ALWAYS return to their last high after such a correction, it just takes time. Pull up some charts on Type 1 internets (AOL, CMGI, GNET, etc) and the charts will speak for themselves. I believe this will happen until we enter a bear market as it all has to do with what makes any market tick, greed and fear. GNET just had a 50% percent correction as did several internets. A 50% correction is rare even with internets and GNET is now over sold. I believe the bottom was last Wednesday or Thursday for internets. The Ralphs of the world were all on CNBC trying to drive internets further down after Mary Meeker's (wrong) call for 20% more of an internet correction. The big boys were counting on it, that's why they were on CNBC singing the 20% more song before they bought in. But a funny thing happened on the way to further legal market manipulation. Some people saw a 50% correction as a great chance to screw the greedy big boys who were waiting for 20% more and some people bought GNET and other internets for cheap before the big boys did. Chances are that is where all the short covering came from late Friday. See Techride board (Coffee shop), "The gra8 American Innernet shake out" posted last week. It's under my name but Jed wrote it so it is fun reading. I'm looking for GNET to run from here to the 130s soon. The 10th is the Paine Weber presentation so we may get some help then (and I wouldn't be surprised to see GNET picked up for coverage before then). The 20th is the 2:1 split. With time we will hit 199 again. Type 1 internets (companies with profits) always do. BLUE

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