To: Bearded One who wrote (18611 ) 4/19/1998 3:24:00 PM From: Andrew Martin Read Replies (1) | Respond to of 24154
Bearded One. Please read my post here #18591 to understand my point. As I have pointed out the sector is correcting since it is now being covered as A WHOLE. To say the sector is a tulip is just inaccurate. This is a classic inter-sector correction with money being pulled-out of high valuation stocks and money put into low-valuation stocks within the same sector. It is like saying "the boat is sinking" when the boat is just rolling. I am trying to alert people to something which is obviously, once again, over their heads. Reference the "internet tulip", please make a quote for LEAP. This is the internet advertiser I am fully invested in and margin-covered to 2 1/2. As you can see it has had substantial money placed into it over the last 10 sessions. It's fundamentals are slightly superior to THNK. I am not endorsing this stock per se. It is VERY volatile as there appears to be a group active on the Yahoo message board which is attempting, with apparent success, to manipulate the stock as they roll-up more shares during their short-plays. There is a history of them doing similar things with other stocks and I have filed a complaint to the SEC regarding their activity. It is very blatant. So as you may imagine, I am a bit testy when it comes to information directed to "internet stocks". I have found Bull's Barrons article and agree with it's claim that there is a high level of manipulation occurring within the sector. However, if anything, I would seek to diminish the activity by stressing ACCURACY in discussion and reporting. Simply put, the Barrons article, like most discussions of the sector, only concerns the high-valuation stocks that have been on a prolonged run or a 'pretender' stock, like K-Tel (according to Barrons), that is not an "internet stock" per se. There is no mention of stocks like LEAP, IFLY, AMEN and the like which, at the low end, have been accumulating large block purchasing over the last two weeks. Unfortunately, this has attracted some unscrupulous "shorters" who have been on a "Pump-and-Dump" shorting frenzy as they drive prices above what the block purchasing can support and then short it back down, fleecing the flock they have lured in with their Big Money talk. This is why I have been so quick to jump on these people. I apologize to Bull FORMALLY now for saying there was no Barrons article but do not recant fully since his reference was in response to my #18591 post which clearly draws the distinction between the two ends of the sector and why I believe it is "correcting". For him to respond as if the Entire Sector (LEAP included) is a tulip according to the Barrons article is simply false and a defacto manipulation of the content of my post [this is as much of Weenie as I get]. There is no mention of any of the low-valuation internet stocks in the Barrons article (CLUE #1). The low vs. high sector adjustment is the entire focus of my post #18591, but Nooooooooo, I receive what's either ignorance or P&D hype. As far as these internet stocks go people, it's a hot sector just be careful of the P&D shorting. Now I know why trading is done in a "pit". Caveat emptor -and unscrupulous shorters too. Lastly, I'm sorry if this all seems offensive to you Bearded One or anyone else on this thread. I've read your articles and you seem ok to me. Rest assured folks, I'll take this to the Yahoo thread now. I was just invested in the sector and responded to an article by Dermont Burke which I believed I could shed some light on. Regards, -Drew.