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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (4486)	2/19/1999 3:03:00 AM
From: Bill Wexler	Read Replies (1) \| Respond to of 4634

I noticed but didn't take a position yet. RACE also has all the features I love in a great short. A long history of: no products, no significant revenues, massive losses, promises of future science-fiction products which never materialize, crooked management, sleazebag stock promoters, and lots of cheerleaders posting nonstop about how the short-sellers will be hearing from the company lawyers while simultaneously getting squeezed.

To: Dale Baker who wrote (4486)	2/19/1999 3:32:00 AM
From: Bill Wexler	Read Replies (2) \| Respond to of 4634

One word of caution about RACE.... It appears that most of the float was cornered in July 1998 (when the most recent pump phase began), and judging from the price/volume activity since then, I am guessing that the real distribution hasn't begun yet, i.e. not enough suckers have been reeled in yet. Maybe all the gamblers are still chasing the internet rainbow and the RACE story isn't sexy enough anymore. The price jump today suggests that the float is still very much rigged. If these crooks can't convince enough victims to jump in very quickly they may continue to trade large blocks amongst themselves to generate volume. Of course the stock will eventually head down back to 1 - so even a short at these levels would be a great investment...but I'm just wondering if it would be worth giving it a few more months to see more evidence of distribution so we can get better prices and more predictable downside. In the event that enough victims fail to materialize and the crooks run out of leverage, they'll then attempt to bleed the stock out very slowly.