Steven, as WCAP nears 10, I would expect a consolidation. . . I doubt if it will enter single digits, but would not be shocked if it did. Yes, I know it hit a high of 65, but it is seen just like RRRR as a wannabe CMGI. Incidently CMGI, when it hits bottom, makes for a nice "mutual fund" of sorts for internet issues.
CMGI, WCAP, RRRR, TPEG, etc is an interesting way of playing the internet in a broad way, with just a few issues.
I am not going to be as bullish with internet stocks that are unproven as I was in 98-99. Once the stories of bloodshed hit the streets, I believe many will become gunshy to a point. . .akin to Y2K related software services sector.
Earnings, acquisitions and equity investments by the majors are the new criteria for selecting internet stocks for 99-00.
Rande Is |
