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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: MileHigh who wrote (24802)	10/2/1998 1:16:00 AM
From: zsteve	Read Replies (1) \| Respond to of 70976

Milehigh, OT RE--RMBS 1) valuation. with a projected '99s less than $50 million revenues, (when i went to short @67), it has a P/S of about 30 for next year, and PE is about 150. it's way overvalued for me. 2) RMBS is traded much like those crazy internuts stocks, most time based on news and rumors, not fundamentals. they can be traded in a wide range because of their low floats. if one bets on the right side of the price movement direction, he can make some good money either long or short. 3) i like to short those stocks that make new high or near new high with no good reasons while the general market is weak. emc, rmbs, jnj,ibm,even msft, mrk and csco are good short candidates for me a few days ago. i will cover rmbs before earnings. my target is about 55. may go long at low 50s. good luck.