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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Susan Saline who wrote (18436)	1/11/1999 7:40:00 PM
From: Larry S.	Read Replies (2) \| Respond to of 53068

Valuations, momentum and (in)sanity: - today i traded LCOS, in at 102, out at 140, bot back at 128. Bot SEEK at 71, more at 83, and sold some at 85 3/4. also bot some YHOO at 401, as a hold. Added some DIS as an internet play. In the old days, there were PE ratios, Dividend Yield, Price to Book. Now there are positions in the new paradigm called the internet. I feel that AOL and YHOO are the two premier "connectors" to the internet. LCOS, SEEK, XCIT, etc are attractive, and will have major positions, but AOL and YHOO are the firstest with the mostest. T and WCOM are the two 8,000 lb gorillas of telephony. T is making an end run on the RBOC with cable telephony, which is a component of Internet Telephony, the next great wave in communications. INKT and ATHM offer specific, unique services and will be huge winners, even from these prices. I do have problems with AMZN, DBCC, NAVR, AMEN and many of the crazies that can be replaced with the next new idea. Actually, AMZN does have major market clout and position, but what about BKS. The online auctions, EBAY, ONSL, BID, etc, also seem extended, but ONSL is a better value than EBAY at this point, at least IMHO. Valuations. Is YHOO ridiculous at 400. Yes and no. Ahead of itself, probably, but it is the premier portal in the biggest mass change of information gathering, communication, and commerce that we have ever seen, that is the internet. I consider YHOO to be attractive at 400 because i think that its valuation a year or two from now will be mega higher than it is now. The big funds, institutions, etc, are now just beginning to buy the internet stocks. The public was way ahead of the curve on this one. As Peter Lynch said :"Buy what you know". There is a momentum in the top-tier internet stocks that is undeniable and unbelievable. I invested in them because, as high as they are, they seemed low risk for short term plays (carefully watched) and for long term investments. Larry