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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: Bud Fox who wrote (2488)	7/15/1998 1:43:00 PM
From: Hiram Walker	Read Replies (1) \| Respond to of 29970

Bud, I have come to the conclusion earnings,valuations and fundamentals mean absolutely nothing to this market. Since most people could not read a balance sheet,and the best economist would have a tough time analyzing TCI's tracking portfolio,what does valuation mean anyway. So the point being,that ATHM will rise until supply meets demand,thats all there is. So as long as the insiders do not sell,and the float does not substantially increase,its clear to $100. But some point those tied up shares will be released,and the float will go up over 50-60 million shares,and the market will have to absorb it. Then it T deal fails,those shares will hit the market soon,and it will be absorbed. Thats all that stops stocks nowadays,float size,and share release,and with poor companies(NOT ATHM) its S-3 preferreds. Hiram