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Technology Stocks : Excite [XCIT], an exciting stock to own in 1999! -- Ignore unavailable to you. Want to Upgrade?

To: RumKola who wrote (1465)	4/17/1998 8:04:00 PM
From: Michael Collings	Read Replies (1) \| Respond to of 3183

JD: First I have no position in this stock, so I have no underlying desire to see it up or down. But I am concerned that the longs are not seeing the reversal of sentiment that is now happening. The stock just dropped over 15 points today (almost 19 points from its high) after it ran straight up. That's telling you that the momentum is over. Sure there will be bounces and there are many that will call this a buying opportunity, but the decisive reversal is very real and it is highly unlikely that it will now reverse again to positive momentum. It is much more likely that this stock will eventually trade back in the 20's where it is fundamentally valued than it is to be trading in the 90 to 100 range while trading on momentum and hope in future prospects. Hold on if you like, because it may be years before you see these levels again and then only if the fundamentals warrant this price. That is always the fate of momentum stocks..... rise spectacularly on future prospects, then fall back to levels that are consistent with current fundamentals and from there rise with only fundamentals. The current price is a gift. If you choose not to take it, then don't, but you won't get to these levels again until the fundamentals of the company justify the price. That means real earnings.