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Microcap & Penny Stocks : Bid.com International (BIDS) -- Ignore unavailable to you. Want to Upgrade?

To: CBurnett who wrote (12933)	3/24/1999 8:00:00 PM
From: Jack Kennedy	Read Replies (4) \| Respond to of 37507

CBurnett: As I stated in an earlier post I'm quite impressed with the performance of this stock thus far and the strength it has demonstrated in spite of the intra-day sell-offs. This kind of scenario almost seemed too much to hope for just a couple of months ago where a large runup was followed by a large sell-off. That doesn't appear to be the case here, and it also appears as if we're getting strong retail investor support bolstered by strong institutional support fuelled by the belief BII will make quite the splash upon debuting on the NASDAQ. As some others have already stated, I am sure many see the relative cheapness of this stock compared to its U.S. competitors as an opportunity to turn a serious profit and because the big day is rumoured to be near, panic buying has taken hold in case any surprises are suddenly foisted upon investors. Nobody wants to miss the boat and you can't blame them given the unpredictability of this sector. Short-term I see a lot of volatility in share price, and if it does dip, (as these things normally do) I doubt we'll see much less than $8.50. On the upside I could see the stock moving between $10 and $15 with consolidation taking place here before a U.S. listing. I won't speculate on BII's NASDAQ performance as I think that would be premature at present, but the large float is going to hold us back from valuations similar to those of iVillage, uBid etc. These stocks have much smaller floats and doesn't take much to cause a $20 or $30 pop in a day on just a little buying pressure. As a side note, anybody considering a short position right now needs to seriously reevaluate. Shorting stocks like this that are currently enjoying serious momentum is inherently dangerous IMO. If you've got the balls then great, but don't be surprised if you end up on the street because you acted too impulsively. Seen it happen before many times over.