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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: Mike Milde who wrote (908)	9/1/1998 5:18:00 PM
From: Elsewhere	Respond to of 2414

>You keep talking about short term market psychology though. >That's important only in the short term. It depends. Market psychology can be vicious. I lost some money with APAC, a growth star just two years ago. It was considered to be the leader of the teleservices industry, not that much different from banking, and was driven up to $60. Then it reversed its trend, yesterday it was around $3 1/4. EPS 99e is $0.60, so PE 5 inspite of a growth rate of around 90% p.a. from 1992-1997. If NTBK "achieves" the same valuation we end up at $4. But I give you the benefit of the doubt - bought back some of the shares I sold yesterday for $19 1/2 at $16 7/16 today. We are still below the 200-day MA... Jochen