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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: larry who wrote (16217)12/20/1998 10:40:00 AM
From: Tom Hua  Read Replies (1) | Respond to of 18691
 
EBAY has no chance to drop below 200 before New Year, let alone 70.

Larry, I agree that it won't drop below 70 before the new year, did you see the <g> in my comment? But I wouldn't say it has no chance to drop below 200.

Bottomline is, shorting internet stocks has proven suicide pills to short sellers in 98 and will continue to do so in 99 for some time until something triggered a dramatic sentiment change toward this whole sector.

Actually, a lot of people profited handsomely by shorting internet stocks, especially the second tier ones, in the summer of 98. In early Oct, many of these stocks have lost 75% from their peaks. My guess is the sector will collapse when numbers for Q1/99 start to come in.

Regards,

Tom



To: larry who wrote (16217)12/20/1998 5:43:00 PM
From: Roger A. Babb  Read Replies (1) | Respond to of 18691
 
Larry, I mostly agree with you. But I will likely have some Internet stocks on the list. The fact that the bubble grew larger in 1998 increases the probability of a burst in 1999. And I view the demise of the two party system as bearish.


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