Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Altaba Inc. (formerly Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (10213)	4/17/1998 9:05:00 AM
From: Oeconomicus	Read Replies (1) \| Respond to of 27307

Bill, I was partly joking about your support line. I see it, but it's a little tough to believe that a test of that support in the near term for a 47% decline (which I'm not predicting BTW, short of a serious market decline or "accounting irregularities") wouldn't sour so many investors, especially those buying in at these nosebleed levels, that the stock could actually return to a more fundamentally based valuation. When E*Trade cracked, lots of people thought the fall was over when it dipped to the low $30s and I thought it would find support around the price of their secondary offering (about $26 or $27 I think). To the surprise of most, it continued falling (after bouncing pretty well a few times - nice little bull traps) until it got to a range that one could justify based on brokerage industry valuations (though at the high end IMO). Anyway, thanks for your comments on CD. The Squawk Box guys sure are beating them up. Can't say that the company has handled the crisis well so far and it is troublesome that the street isn't taking the "let's all calm down and look at the facts when they come out" approach. BTW, I think I heard a figure for Fidelity's holdings at about twice what you show. I forget the figure, but when I heard it, I calculated that they had about a billion dollars of value wiped out (It looks like they took the other billion they had left and moved it to a bunch of other momentum plays<G>). Still surprised it didn't bounce a little more than to 20. We'll see. Good luck, Bob