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To: mishedlo who wrote (118392)	8/27/2001 1:52:02 AM
From: Perspective	Respond to of 436258

EXPE looks like an excellent argument for the bear not being done. $2B market cap on around $400M in sales. I don't know what their ultimate gross margins will look like, but I sincerely doubt they are high enough to justify five times sales. Stock was turned away at the IPO high, and is now backtesting a breakdown. Looks good technically. Insiders selling like crazy. Word of caution - 22% of the float is sold short!!! [EDIT: They are actually projected to start earning like $0.20/quarter going forward. If that were to come to pass, I'd be very careful. A PE of 50 isn't all that rich or all that limiting if the company is growing quickly. I think there is substantial danger of a serious squeeze on that one.] BC