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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: jebj who wrote (57485)	4/26/1999 5:51:00 PM
From: Earlie	Read Replies (1) \| Respond to of 132070

Jebj: This is a forum where everybody is invited to take the views of others apart, particularly with well reasoned and preferably polite comments. There is no question that my views are both bearish and rather strongly held. That said, I still welcome and enjoy well-reasoned alternative views as that is how we all become more adept at interpreting this crazy market. Best, Earlie

To: jebj who wrote (57485)	4/26/1999 10:21:00 PM
From: Greg Jung	Read Replies (1) \| Respond to of 132070

Jebj, a few comments: " and only note that it has been being said about the net stocks for - - how many years now?" Not many. It was really only last fall that .com fever truly struck in manic proportion. Before that, maybe a good year of appreciation of some of the more understandable speculations. EBAY and Geocities mark the beginning of the truly absurd. See PSIX chart for many months of <$6 (because, you see, the company actually loses money) for how truly should suffer even if involved in a successful speculation. Before the net, it was y2k fever. I suppose every year is designated for a different mania for stocks to be pushed. Now, as for stocks going up and down and eventually being right, I don't suppose you should convince the holder of Zitl that bought at $20 that he'll eventually be right. Or of MLTN. Or PRST. If you study these examples a little (available through posts on SI) you'll find that a hope and a prayer without a viable business just doesn't survive. OK, as to my final point, is to point out that even those that are way ahead on the I'nut can lose it all in a flash. Most have decided that the paper they hold is actually worth a tangible amount so that next week if it sells for 1/2 then they can make a lot more money by buying it on the cheap and then selling when it goes up (review your own post to reveal the belief that rebound will always occur). I would guess there are a lot of investors modestly margined that would actually max out margin when it "felt like" a bottom and the stocks then proceeded to lose another 50% - at which point the account becomes without value. I.E. if last monday wasn't followed by the immediate rebound in internet issues, forced liquidations could have dropped the bottom.

To: jebj who wrote (57485)	4/27/1999 12:34:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

jb, PCs and internut stocks are different animals. There is absolutely no doubt that pc sales are declining and have been for some time. From 20-30% sales growth earlier in the decade to 6% in 1997 and a negative number last year to the latest quarterly disaster. Nut stocks are trading sardines and currently not subject to rational analysis. Yes, many of the buyers could take a hit, assuming they are not margined, which most are. And, at some point they will definitely get it. I don't own any internut puts because they are too expensive for the reward potential. I did last summer and made a ton of money on them. Hope I get another shot, but right now I am priced out of that game. Good Luck, MB