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Microcap & Penny Stocks : Bid.com International (BIDS) -- Ignore unavailable to you. Want to Upgrade?

To: Orwell who wrote (2211)	11/29/1998 11:36:00 AM
From: waldo	Read Replies (2) \| Respond to of 37507

Just to balance our thinking around here, I think it is important to read what the bears have to say about the internet craze...so far they have been wrong, but you never know....even a broken clock tells the right time twice a day! I feel that the down side on an ISDEX correction will hurt the multi billion dollar caps more than the multi million dollar cap issues. From Street.com: >>There was a time when stocks like these Internet junk equities just couldn't be taken public by reputable Wall Street firms at all, no matter how many high-risk warnings were stamped on the registration statement. But that has obviously changed, and we now find one of the premier investment firms in the business -- Goldman -- pumping out these junk deals as if it were no better than a bucket shop pushing slop to the masses in the days of the old over-the-counter market. It's just disgraceful to see a firm -- even one with the uncertain reputation of Bear Stearns (BSC:NYSE) -- crank out a deal like theglobe.com (TGLO:Nasdaq) at 9 when it knows as plain as the fingers on its greedy little hands that whole armies of numbskull retail buyers are clamoring on the Internet to buy the stock at premarket-indicated prices north of 50 a share. The fools waiting to buy in the aftermarket are, of course, the Greatest Fools in the entire Internet-stock hustle -- the ones standing there with looks of happy stupefaction, clamoring to buy for $50, $100 and even $150 a share of stock just sold via an underwriter for $9 to some momentum-fund manager who will instantly flip it to the knuckleheads on the Internet for a 1,000% profit. This isn't investing. It isn't even speculating. It's just throwing money at anything that smells of paradigm shift and has a ".com" in the name. How long this will go on I cannot say. A day? A month? A year? All I know is that the evidence at hand says we've entered the last act in the current bull market, and that the end, when it comes, won't wrap itself up in a mere month or two like the slide that began in September.<< Message 6588198 W