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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (17121)	11/20/1998 3:02:00 PM
From: S. M. SAIFEE	Read Replies (1) \| Respond to of 18056

I came up with 80 billion for 10 internet stocks that included yhoo, aol, ebay amzn, xcit seek etc.

To: Zeev Hed who wrote (17121)	11/21/1998 9:05:00 AM
From: Crimson Ghost	Read Replies (1) \| Respond to of 18056

ZEEV: I feel sorry for anyone short internet stocks. They are grossly overvalued, but who knows how far the mania will go? Shorting stocks has always seemed a losers game to me, except for very savy professionals. Your profit potential is limited and your loss potential is unlimited. Just the opposite of the long side. Looks like I will probably be wrong about a peak Friday, but still think a stiff correction is quite close. The market (and especially economically sensitive stocks) can go a lot higher once the short-term excesses a wrung out. I don't expect a final top until commodities are doing much better and bonds and the dollar much worse. Probably next spring or summer.