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Technology Stocks : WCOM -- Ignore unavailable to you. Want to Upgrade?

To: stock_bull69 who wrote (3646)	12/29/1998 2:26:00 PM
From: Jake0302	Read Replies (2) \| Respond to of 11568

Why is 70 level significant? Let me quote from an option newsletter I am considering subscribing to (www.optioninvestor.com ... there's your free plug): "After a series of new highs, WCOM took Christmas week to consolidate near the $70 level. Volume tapered off the closer we got to the holiday as traders went home. Brokers were mixed as Zack's ratings added both a "moderate buy" and a "hold." The momentum is still there and nobody is selling. Look for the ascent to resume next week." So, bottom line, 70 is significant because the price consolidated there, and no one is selling, and therefore the price didn't drop. Why is the stock going up? Money Magazine (Jan 99) said that this is pretty much THE stock to own in 1999 because it was unique in its scale and the percentage of its growth; and because institutional investors have not bought this yet across the board. Also, on the early morning CNBC program a guest (mutual fund manager?) said basically the same thing, and mentioned that magic word that begins with an I. But this stock is for real, WCOM, with its UUNET unit, builds like half of the Internet. If anything, I think this company's growth is underestimated. Stocks like YHOO, AMZN, EBAY are tulips... sort of. They certainly don't deserve their multiples (though I am not complaining about my 220% gain in YHOO) but their growth potential is still UNDERestimated because American consumers are getting online in record numbers. It is a cultural thing now, with movies like You've Got Mail. And WCOM is positioned to integrate a lot of that. People, both individual investors and institutions, are waking up to that. I am very optimistic about WCOM...