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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: John Nobrega who wrote (2203)	2/3/1998 8:12:00 PM
From: Roger A. Babb	Read Replies (1) \| Respond to of 18691

John, I think we are all just quietly licking our wounds over the Internet shorts. I am hanging in there, selectively increasing some positions.

To: John Nobrega who wrote (2203)	2/3/1998 8:33:00 PM
From: Kip518	Respond to of 18691

John, I can't comment on your other favorites but XCIT has been eating shorts alive the last few days. Just watch the ticker when it nudges up through the old high on 100 shares sales and you'll see it jump on big volume as it catches stops for 1-2 points up. Then, after the MMs squeezed all they can, it sells back down near the previous high and starts up again catching day-trading shorts. You're right to think the fundamentals are not there for this valuation and clearly with MSFT's search engine coming out this summer 2nd tier search engines are likely to be in big trouble. But right now with the sudden market bullish and reports like the one yesterday on DJ talking about XCIT as under-valuated below mid-50's (URL below), XCIT has got the big mo. BTW, I hope for both our sakes that your pick price is right & that today was the top in this move (though I don't have any reason to believe it--XCIT ended the day way too strong & the MMs are loving this). I'm short XCIT too (and bleeding). Ron smartmoney.com