To: SouthFloridaGuy who wrote (2215 ) 4/2/1999 2:15:00 PM From: Robert Sechrest Respond to of 5843
Why on Earth would you ever short a net stock that made a new high? That's just stupid. I, for one, remain unconvinced, PuffDaddy. This stock made an all-time high of 145 1/2 on March 19th after a stellar run up. It touched that level again on the next trading day, and I shorted minutes later at 141. Within two days, it traded at least once at 106 1/8. That's a drop of about 27% in no time at all. BTW, after watching it bounce around in the 100 and teens for a while, I covered at the close Tuesday at 123 5/8. So, it would seem that shorting a net stock that made a new high isn't always "stupid." Now, some of radame's bearish comments are too extreme to be of much use, and until RNWK has found a top, I don't envy anyone short it. MSFT's disenchantment with RNWK is a good thing long-term, if this company has a lock on necessary net technology. Selling 10% of RNWK at the $40/share level was one of the dumbest things I've seen MSFT do (I see Gates as a baby who needs the whole sandbox for himself). But hey, those forgone profits are just chump change to a $500 billion company, right? :-) To the bulls, why does 57 million registered users mean so much, or why should one pay $85 (based on $158/share) for each one? I guess I'm one of those registered users because I download RealPlayer and used it a couple of times, but I didn't send RNWK any money. Finally, the announcement of the BCST deal was old news Wednesday night by the time it was announced, so why does it now affect the RNWK share price? BCST saw its stock run up 30 points one day over a week ago, on rumors of the buyout. Glaser is rather consistent in saying the company is not for sale, and even if it was, is there no limit to how much will be paid? Consider Lycos's fall after a tangible deal was announced, and the fact that AMZN built its own auction site instead of buying EBAY. To Steve Antonelli, thanks for saying in post #2186 that discussion about these issues is healthy. To everyone else, please no flames; I won't respond. Regards, -- Robert