To: westpacific who wrote (41108 ) 12/8/1999 4:22:00 PM From: gizmo&jack Respond to
Okay, here's my scoop. Re PFSW, I really never sold my family and I have sold some to free up some cash for other stocks, but I am maintaining a substantial position. I sold TRRA today in the low 50s after it began coming down from 55. As I said, it seemed overextended with a huge market cap. Had put YARC in a safe place and was pleasantly surprised today. Should've taken a bigger position, but I did okay. (Had some bad penny experiences which scared me, but the LINUX thing is out of control). Also sold ANCC and KIDE to buy ACOM. Very disappointed with my IPO picks today. Skipped PRVW and ANDN for ACOM. In the long run, I am certain that this will prove intelligent, but as we are all short term traders here, I admit I messed up. Have to come to grips with the fact that fundamental valuations are becoming unimportant in a maniacal environment. PRVW and ANDN are just at absurd valuations, but nobody cares at all. This reminds me of earlier this year in the peny market when stocks like ECEC went from 1 to 20 in a day and then back to 1-2. And there were so many others that did the same thing. And in the NASDAQ too. I expect many recent IPOS to come crashing down in the next couple of months. It's not sour grapes for missing them. It is just fundamentals talking (which is the reason I passed them up in the first place). I may miss some flyers with my trading strategy, but by pursuing quality stock exclusively with market cap/rev multiples 100X or less, I rarely get hurt too bad. My stocks almost always rebound when the fall because they are fundamentally sound even if I time my technicals wrong. Anyway, just blowing off a little steam. Expect ACOM to hit triple digits prior to 2000. People think this opened high today? LOL Look at ANDN or PRVW. PRVW had sales of $600k last year. And a market cap of only $1.3 billion. What a steal at 1000X revs!!! Do the math people or suffer the consequences.
