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To: Smart Investor who wrote (16249)	12/23/1998 10:37:00 AM
From: Craig Richards	Read Replies (1) \| Respond to of 27307

The bricks and mortar shopping season may be a bust, but bullish internet investors think this means that e-commerce is already cutting revenues at conventional retail outlets. That is bullish for e-stocks, not bearish. In a bull market, any news can be bullish.

To: Smart Investor who wrote (16249)	12/23/1998 11:25:00 AM
From: Chuck Molinary	Read Replies (2) \| Respond to of 27307

Good morning Mr. Smart, Congrats on closing your SEEK short. I covered at the open for a wash. Got nervous with the pre-opening bids on AOL, YHOO, etc. so I thought it might be a runaway... Already made enough today on UBID so I may sit on the sidelines for the rest of the day. Regarding your comment "The shopping season turns out to be a bust, in contrary to the hype by Wall Street analysts and some pundits several weeks ago.": I tend to agree with Craig on this one. I think the contemporary measures of Christmas sales do not account for items sold via newer channels (read the Net). Therefore, to hear that sales are down 0.6% year over year to me is not necessarily bad. I wouldn't be at all surprised if 0.6% or more are occurring over the Internet. Personally, my wife's gift purchases are DRAMATICALLY higher this year. Hence my need to continue trading... <gggg> What positions are you taking today? I've been in meetings all morning so I haven't been able to get a feel for the action. YHOO is showing 250 right now. Back to 240 this afternoon? What's your take? Best of luck, Chuck [EDIT: One other thought regarding sales figures. I think a lot of people wait till AFTER christmas to make a lot of purchases. People have become trained to wait for the bargains. I know last year the week after Christmas was huge for the retailers...]

To: Smart Investor who wrote (16249)	12/23/1998 11:25:00 AM
From: Bill Harmond	Read Replies (1) \| Respond to of 27307

>>The reason is YHOO does not have anything unique that other people can not duplicate easily. Like 40,000,000 users! That cannot be easily duplicated. Yahoo has taken the category. Last quarter Yahoo grew page views at a faster rate and off a larger base than any competitor. As Morgan Stanley's Mary Meeker said in Barrons this week, "I wouldn't want to be competing with Yahoo. I wouldn't know how."

To: Smart Investor who wrote (16249)	12/23/1998 11:47:00 AM
From: HG	Read Replies (1) \| Respond to of 27307

<<<<Have anybody looked at the headline of many local newspaper? The shopping season turns out to be a bust, in contrary to the hype by Wall Street analysts and some pundits several weeks ago. The anticipation of a gangbuster shopping season is one of the reason those Net stocks were pushed to such insane level. Now it is time for a reality check! >>>> Where do you get this kind of information ? Or do you just make it up? I personally know at least 200 people who have shopped thru internet this year. And we've been in US ony for 2 months - so don't even have a very large circle of acquaintances.