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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: James Clarke who wrote (9138)	12/4/1999 10:43:00 PM
From: jeffbas	Respond to of 78602

Jim I will politely remind you of something I previously said on this thread, I believe when Mike was shorting Amazon early this year. You never short overvaluation as that is something that has no inherent limit. You short stocks with visibly deteriorating fundamentals, that is recognized by the Street and confirmed by a chart pattern - at a price well above where you believe it is heading if the current trend continues. By those criteria, most of current highflyers are not shorts. One little example, if you were to look at the XICO chart (up 10 times this year from the low), its earnings record and its balance sheet, many people would conclude that this price is crazy. They would be dead wrong. The technology business is so dynamic that the fundamentals for a company can change faster than we can possibly imagine for traditional value companies.