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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Roger A. Babb who wrote (18058)	4/13/1999 8:30:00 PM
From: Tai Jin	Respond to of 18691

The stock market has really become a lottery with the theme-of-the-day stocks gaining 200% or more in one day. This is absolutely nuts! It would seem that momentum traders have taken over. The market is becoming more chaotic, and I'm not sure I see an end to it as more people trade online. But a market that no longer trades on fundamentals will surely crash. ...tai

To: Roger A. Babb who wrote (18058)	4/13/1999 9:07:00 PM
From: Market Tracker	Read Replies (1) \| Respond to of 18691

Good evening Roger and All, The valuations currently being placed on the internet sector issues has now far-surpassed my wildest dreams. With AOL now having a market capitalization 3 TIMES that of GM, I/We know the time is not to far away for a serious market re-appraisal. The current market is beginning to look a bit like a a blowoff top, with rank speculation the order of the day. This market has re-defined Tulipmania. The shorts should soon have their day(s). I began getting very defensive this afternoon, selling higher P/E issues for more down to earth ones, i.e. ENE. ENE is looking to have a fabulous next 3 quarters, and a great year. A stock split is not out of the question for them. Take a look at them, and I think you'll agree. Also FAF seems to be trying to find it's bottom. Geez, 4.4X earnings, ~$700 million in cash, and a dividend yield exceeding 1.5%. IMO the value investor is soon to be vindicated. Gary PS - On first glance this link looks pretty good. netcognizance.com