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

To: Pancho Villa who wrote (6555)	4/8/1998 2:54:00 PM
From: CatLady	Read Replies (1) \| Respond to of 18691

I shorted a little ONSL this morning at 31. They expect to break even in 1999?!?!? AMZN junior IMHO. ------------------------------------------------- Company Press Release SOURCE: Genesis Merchant Group Securities Genesis Downgrades ONSALE to Long-Term Buy From Strong Buy SAN FRANCISCO, April 8 /PRNewswire/ -- Genesis Merchant Group Securities today lowered its recommendation on ONSALE, Inc. (Nasdaq: ONSL - news) to Long-Term Buy from Strong Buy. ONSALE conducts auctions over the Internet that enable businesses to sell excess goods and services at attractive prices for them while providing value for customers. Genesis analyst Barry Sosnick revised the rating because the stock has more than doubled in price since late last year, while new product lines have not been introduced as quickly or developed as fully as anticipated over the last few months. ''ONSALE has the makings of a powerful growth retailer, and announcements of significant enhancements to the company's merchandise strategy might come soon. For that reason, we remain confident about the long-term prospects for the stock, and rate ONSALE a Long-Term Buy. If a pullback in the stock should occur, we anticipate redoubling our efforts to accumulate positions in ONSALE,'' said Barry Sosnick. ''In 1997, ONSALE's auction concept for hardgoods and services rang up gross merchandise sales of $116 million, and we expect sales to reach nearly $224 million in 1998,'' said Barry Sosnick. A loss of $0.60 is estimated for 1998. ONSALE anticipates reaching the break-even point in mid-1999, and is projected to produce profits of $0.16 per share for 1999 and $0.51 per share for 2000. SOURCE: Genesis Merchant Group Securities