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To: larry who wrote (16685)	1/1/1999 3:22:00 AM
From: oldcrow	Read Replies (4) \| Respond to of 27307

>>>Imagine that a person who is nervous about the burst of the bubble but also want to delay the tax payment for another year. What is this person going to do?<<< He's going to sit pat, hope that YHOO goes down on Monday so he can buy more....he'll be happy as can be come Jan 12! and Feb 12 and Mar 12 etc. etc. Here is how I see Monday unfolding: 1) a drop to 227-230 first thing....bears will love it...and think the end is finally at hand. 2) Smart money will be adjusting their scopes and oiling their rifles while the bears rush into range. 3) Then WWHHHAAAMMMM...the trap springs! Bear fur, guts, and howls of pain...everywhere. 4) Smart money will be looking down at the carnage from its wildlife helicopter...giggling in ecstacy at how easy it is to bait and kill these foolish bears (just throw them a little garbage to feed on...let 'em move in...then let 'em have it...works everytime...you'd think bears would be tired of the routine by now) 5) End result... (a) YHOO at 254 (b) Smart money starting off the new year by scooping up one of the strongest net stocks in the free world at a dream price (hey, they gotta make sure they make some money in '99) (c) Bears wondering where they went wrong (again) (d) Bulls happy and content (as usual) to enjoy the ensuing run-up

To: larry who wrote (16685)	1/1/1999 10:18:00 AM
From: tonyt	Respond to of 27307

>Imagine that a person who is nervous about the burst of the bubble but also want > to delay the tax payment for another year. What is this person going to do? Used to be easy. In '97, all they had to do was 'short against the box'. For '98, Clinton did away with this stratagy. I wonder if this will have any effect next week.

To: larry who wrote (16685)	1/2/1999 3:24:00 AM
From: HG	Read Replies (4) \| Respond to of 27307

<<<I think that a majority of shareholders are nervous about the sky high valuation of lots of these internet issues. Those who believe that internet revolution demands unlimited valuation is either naive, or just cheating themselves.>>> I agree. Yes, most are nervous - because this is uncharted territory. How high is too high ? How high is sky high ? But I think most understand that traditional valuations do not hold. The lack of a validating model is the reason for nervousness, not the valuation itself. No one feels that internet demands unlimited valuation. We just do not know where the limits are. The cynics have dug in a position @ $35, most investors (speculators ?) are grappling with the unknown...and will keep doing that till a new internet enabled world emerges. Its just a difference in perspective - where does the cheating come in ? Try to visualise what would have happened if Wright brothers had IPOed back in 1900s. In retrospect - how much would you have paid ?