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To: tonyt who wrote (1264)	4/5/1999 4:18:00 PM
From: BelowTheCrowd	Respond to of 1354

Tony, Been on vacation, but as expected, the net stocks have risen nicely. Don't understand why he insists on chasing stocks which have no proven valuation criteria. His tired old "valuation" methods just don't work because the people who buy those stocks are using different criteria. In the meantime, I've done nicely in my shorting, despite a rising market. How? By focusing on over-hyped companies with small bases of support and real serious problems with running their businesses. Companies which are running out of money. Companies which are issuing "death spiral" Convertibles. Companies which are affiliated with shady stock promoters or managements with a history of crookedness. Companies with products which are unproven, unapproved, unavailable for sale, selling on a "trial basis" in places like Mexico and Russia, etc. Really CRAPPY companies. AMZN, YHOO and the other internuts just don't meet those criteria. They are generally overvalued, and MOST of them will crash someday. But they are putting out product. They are growing the top line (even if not the bottom), they generally have excellent and honest managements. (Bezos, Koogle, etc.) The base of support and interest is growing. Betting that their investors will suddenly "come to their senses" right now seems a far longer shot than anything I could get at a craps table in Vegas. mg