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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: snerd who wrote (9366)	2/18/1999 11:37:00 PM
From: j.o.	Respond to of 56535

Scary stuff, Snerd! Sounds like a closed shop over there with money churning through the various entities. Wonder how long they can keep the machine running? j.o.

To: snerd who wrote (9366)	2/19/1999
From: Maarten Z	Respond to of 56535

Snerd - That was great reading! Definitely is food for thought. I dont buy a conspiracy theory though. When you look at a T/S printout for a trading day of any of the 1st tier internets you see mostly small tickets. I am sure institutions have holdings in Yahoo and the like but it is my believe that by and large the "small investors" were and still are the main driving force behind the runups in valuation. Having said that I also believe the valuations are way out of line. And do agree with that the number of page "hits" is being grossly overstated. I remember when the Inets first started drawing attention because of their lofty valuations, the pundits were shaking their heads,spewing forth traditional fundamental analysis of these companies and forecasting a swift and painful plummit to reality. But when that didnt happen they changed their minds and decided that perhaps these Internets should be viewed differently and that a better measurement of future profitability would be to watch user traffic and page hits. And if the site carried alot of banner ads - voila - theres your revenue stream. Frankly I do not think that so called "gurus" like Mary M. know what they are talking about. I read her stuff as I do Steve Harmon's but truly this is an industry in its infancy, and your opinion and mine are just as valid as theirs. I believe this year will show alot clearer picture of how internets should be valued. ANd many that had risen so quickly since October will not return. Well better stop rambling. Thanks for the articles. LOL Good Trading MZ