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

To: Phil(bullrider) who wrote (16640)	1/7/1999 12:59:00 AM
From: HiSpeed	Read Replies (2) \| Respond to of 18691

He who makes the most wins!!! Am I stupid for making $$ on CMGI?

To: Phil(bullrider) who wrote (16640)	1/7/1999 2:32:00 AM
From: mchip	Respond to of 18691

<<IMHO, the people that are long the "Internuts" at these levels are a lot more stupid than the shorts.>> Phil, I used to agree with that(still do basically/fundamentally/valuation wise etc…) but the internet is the current market gorilla. AMZN for example, people have been saying being long at $__ <- fill in any price over 40 is stupid. Just look what we missed by not understanding the dynamics behind this “bubble” or “tulip”. Or what we lost by being short! I was short AMZN from 90 to 140, every 10 pts up I'd short more, I should have covered all on the dip back to the high 60's, at lease I took half out, ended up covering the rest at 200… and going long. (Of course I sold that the day before the $400 target was set). I still have trouble staying long AMZN but I've recovered my losses trading it. I'm not saying go long AMZN… it I think is the craziest now, but I still see upside for a few more weeks, and depending on Bezos… it could have upside for awhile. Other internet plays are going to be volatile, but I see nice gains in the ‘winners' for 99.