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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?


To: Ron Kline who wrote (1354)4/11/1999 12:56:00 AM
From: Brentsky  Read Replies (4) | Respond to of 2414
 
Very true Ron, However the same can be said about not selling some of your shares when a stock rises 60 points in a week and a half.

Anybody holding shares they bought below 50 and not selling when it spiked above 125 on Friday, are foolish indeed. Very few stocks can sustain these kind of runups without a pullback and consolidation at a lower price. Add that to the fact that it appears the NTBK CEO and a Director are leaving the company at the end of this month, and the fact that more competition is appearing everywhere and one has to wonder if the little CNBC appearance announcing new customers wasn't a bit of hype to pump and dump the stock for insiders!!!

It will be hard to find buyers on Monday who want to pay $120 for a stock that cost $60 a couple of weeks ago. Especially considering the bad earnings news from Compaq and others to follow. NTBK may have new customers, but earnings last quarter were $.02 below estimates and may be flat this quarter as most analyst have already reduced their estimates. Remember, internet companies do cost money!!!!

The best way to handle this stock is: if you don't own it now, wait for it to pullback (probably back under 100) and if you own stock you bought under $50, you'd be foolish not to sell some (50%) or so, and then if you still like the company buy stock back after dips and pullbacks, which will come!!!

Brentsky