To: ViperChick Secret Agent 006.9 who wrote (4196 ) 4/18/1998 12:24:00 AM From: Rob Read Replies (3) | Respond to
Lisa, I'm a trader too and I have to side with Pakman on the VC seller issue: it had an impact. I traded these things all week - seek,xcit,yhoo,lcos,omkt - and you've got to respect the power of a squeeze. A guy in my office kept trying to short xcit earlier in the week and just lost his ass. It was painful, actually, cause he's an ok trader with a bad case of the "this just doesn't make sense" mentality. I'm new to this thread, but cm and a few others are not only banging the long gong, they're right to a huge degree. Shorting these guys for anything other than a day trade is suicide right now. The market is grappling with a NEW IDEA and while some brazen souls make a ton of money, the rest of the market players sit in agony on the sidelines with envious, holier-than-thou scowls on their faces. These stocks are not on a Netscape trajectory, i.e. a lone parabolic move in an otherwise flat market followed by an Icarus fall; these are hell hounds recently released from the underworld and moving as a fierce pack. Near-term analysis is moot for the group when sub-$700 PC's monitors are lighting up millions of new faces just itching to find out what all this "internet" stuff is all about and reading the ads that cluster around all the content they gobble up. It's like being at the dawn of TV. Woe be to the smarty pants who shorted NBC in the late 1940's. (lisa, you sounded nice so i wanted to do my best to help you avoid the pain this guy in my office experienced this week. hope it helps.)
