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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: Susan Saline who wrote (8673)	2/17/1999 12:46:00 PM
From: Jay Lyons	Respond to of 43080

PRGY Covered flat. Sue, the modified gap trigger is 44 1/4. This is from Briefing yesterday... PRODIGY (PRGY) 46 +10 9/16:Recent IPO continues to climb amid very active trading... At today's intra-day peak of 50 5/8, stock up 238% from its offering price of $15... While stock could enjoy another day of gains, Briefing.com contends that most of the juice has been wrung out of this lemon... A quick look at trading pattern of other successful Internet IPOs [such as theglobe.com (TGLO), MarketWatch (MKTW) and EarthWeb (EWBX)] suggests that stocks have only a few days of gung-ho trading, followed by a sizable, more prolonged downturn... Consequently, look for the day traders to start bailing out of PRGY any time now... When they do, stock will take a beating... Briefing.com sees pullback to mid-20s... Fundamentally, wouldn't touch this stock as subscriber base is low and losses huge... To gain subscribers costs must rise... Basically, get while the getting is still good.