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Technology Stocks : BLUEFLY.COM(BFLY) -- Ignore unavailable to you. Want to Upgrade?

To: Still Rolling who wrote (440)	10/1/1999 4:39:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 487

Whoaa, I was so wrapped up elsewhere I hadn't noticed. Last time I looked it was up fractionally I thought. No block trades, but definitely odd end of day behaviour. Thanks for the heads up. regards, sf

To: Still Rolling who wrote (440)	10/5/1999 12:47:00 PM
From: Joe Casey	Read Replies (1) \| Respond to of 487

Gruntal initiates coverage of BFLY with their top rating: 1-1 (Outperform-Outperform) Initiating Coverage of Bluefly, Inc. with a 1-1 Outperformer - Outperformer Rating Bluefly's selection of designer labels at discount prices reflects the idea that brand awareness and attractive price points are the most significant factors influencing an individual's decision to buy apparel online. We expect the retail discount apparel market to reach $36.0 billion by 2004, since it was $27.0 billion last year and is growing at about 5.0% a year. Forrester Research forecasts the online retail apparel market to grow to $20.2 billion in 2003, representing over 7% of overall retail apparel sales. Given this trend, we think that it is reasonable to assume that at least 4.0% of the discount apparel market will migrate online. Given Bluefly's early mover status, we expect that it will capture a 20.0% share of the online discount apparel market, with projected net sales of $300.1 million by 2004, compared to $5.5 million projected in 1999. We believe that Bluefly's market capitalization should reflect this growth and market leadership. Our 6-month and 18-month price targets are $13 and $18, representing upside potential of 27.6% and 76.7%, respectively. Catherine Skelly

To: Still Rolling who wrote (440)	10/5/1999 12:55:00 PM
From: Joe Casey	Respond to of 487

Hey Craig, Here's my simplistic interpretation of the past few days events. I've seen this happen way to often with BFLY. Day traders got wind that an announcement was forthcoming from the company (how the heck do they get these leaks?) and bid up the stock late Friday. The problem is, none of the day traders actually knew what the press release would be about. Thus, when the news came out early Monday that it was just a content partnership with Elle Magazine, the stock opened around a point below its Friday close of 10 15/16. Conclusion: Be very skeptical of unexplained upward spikes in this stock, and be somewhat grateful for unexplained downward spikes in this stock (so we can all load the boat). One of these days, the forthcoming news will be better than day traders expected, and the stock will continue to rise until it trades in line with other Inet stocks. That is why day traders continue to jump on BFLY - they ostensibly know that BFLY will be a leader one day....they're just playing with the stock until that day arrives. When it does, the stock will probably be north of 30.