To: Rob S. who wrote (31001 ) 12/23/1998 12:54:00 PM From: Platter Read Replies (2) | Respond to
From Briefing.com..(DAYTRADER): Daytraders have taken uBid (UBID 181 3/8 +46 7/8) under their wings in an attempt to mold it into another eBay (EBAY 303 +2), which has soared 657% since the beginning of October, or ONSALE (ONSL 66 1/4 +2 1/4), which catapulted 237% over a three day period in late-November. UBID shares have raced 390% over the past week alone. Creative Computers (MALL 59 3/4 +12 27/32), which owns more than 80% of UBID has risen 184% over the same period. Traders have discovered another Internet auction play in Multiple Zones International (MZON 28 13/16 +17 3/8). The stock has rallied as much as 175% on the session after the direct marketer of computer products announced the launch of a web auction site on its Internet SuperStore, zones.com. Actually, this was a re-announcement, as MZON issued a press release on Dec. 7 stating plans to launch the web auction service... Online brokers have also been tearing up turf this week. Shares of E*TRADE Group (EGRP 45 1/16 +6 5/8) and Ameritrade Holding (AMTD 36 3/8 +2 1/4) have risen 40% and 73%, respectively, since Monday. The turnaround in these stocks is in reaction to AMTD prediction that strong transaction volumes during the quarter will lead to better than expected earnings. Today, shares of National Discount Brokers (NDB 15 3/8 +3 7/8) are up in sympathy... ZAP is back: Corn meal and sausage casings manufacturer, Zapata Corp (ZAP 13 1/4 +6 1/16) announced this morning that it will again attempt to gain a ride on the Internet momentum train by re-launching its web initiative. If we are not mistaken, the market began its correction only two weeks after ZAP first announced plans to become a Web player. Another sign that ZAP may be a contrarian indicator: the market began its recovery right around the time ZAP decided to can its Web endeavor... Recent IPOs soar: Shares of December initial public offerings Ticketmaster Online-City (TMCS 54 15/16 +6 7/16), Xoom.com (XMCM 42 3/8 +7 1/2), audiohighway (AHWY 8 5/8 +2 3/32), AboveNet Communications (ABOV 25 +8 1/8) and Internet America (GEEK 30 3/8 +15 5/8) are being picked up today.
