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Technology Stocks : K-Tel (KTEL) Have the cheesy '70s records come to an end? -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (2569)	11/11/1998 11:28:00 PM
From: Louis Riley	Respond to of 3203

Bloomberg Story: The analyst quoted in here is the gentleman who called the top in IOMG in May 1996: << K-tel Almost Triples on Microsoft Network Agreement Los Angeles, Nov. 11 (Bloomberg) -- K-tel International Inc. almost tripled in the past two days after Microsoft Corp. agreed to include the music retailer's online music and video service on its MSN Shopping channel, as K-tel expands its Internet presence. Minneapolis-based K-tel rose 9 11/16, or 42 percent, to 32 5/8 in trading of 24.1 million shares today, more than 23 times the three-month daily average, making it the fifth most-active stock in U.S. markets. The stock closed up 98 percent yesterday. Redmond, Washington-based Microsoft, the world's largest software maker, fell 1 to 111 1/16. K-tel, through its K-tel Express service, will have direct links to Microsoft's Internet sites, including MSN Shopping, Microsoft Plaza, MSNBC, Computing Central, Sidewalk.com and Microsoft.com. Los Angeles-based K-tel Express, which features CDs and videos, will also include a Web link to Microsoft's Internet shopping channel. Terms weren't disclosed. ''I believe K-tel sees 18 before 35. I look for it to break down,'' said Rick Berry, an analyst at J.P. Turner & Co. ''There's incredible speculation on the stock,'' Berry said. ''It exudes speculation, it's just myopic optimism. Parabolic rises always end in disaster.'' Yesterday, K-tel President Lawrence Kieves said that K-tel, which plans early next week to report financial results for the fiscal first quarter ended Sept. 30, will continue to make alliances and consider strategic alternatives for the company. CDnow Inc., the No. 1 online music retailer, rose 2 3/4 to 14 3/4, while No. 2 online music retailer N2K Inc. rose 3 1/8 to 12 7/16. Berry said the Internet stocks are trading beyond realistic earnings expectations. ''The Internet stocks will be historically noted for topping the great bull market of the 1980s and 1990s,'' Berry said. >>