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Microcap & Penny Stocks : Bid.com International (BIDS) -- Ignore unavailable to you. Want to Upgrade?

To: Peter V who wrote (27323)	4/27/1999 7:12:00 PM
From: Rajiv	Read Replies (3) \| Respond to of 37507

Peter, I am not comfortable shorting any First tier internet stock. BIDS is obviously an n-th tier internet stock. There is no American institutional strength behind this move. Retail mo-mo money has taken it to 20 and it is only a matter of time before they bail out. Large float means stock is easy to borrow and no buy-ins.. The key indicators that finally led me to short at the open - I have noticed that a volume of > 30 million shares for an nth internet stock usually indicates a short-term top. I am yet to some across one which has used a 30 million vol day as a base and continued to move higher. Will BIDS be the first? We don't have to wait long to find out - Yesterday, the SI thread had gone crazy. Everyone was talking about 50. I had never seen so many bullish people. Stock markets usually don't co-operate with wildly bullish enthusiasm. Short at an average of 21.625 - I am backing this with plenty of margin. Will be shorting more at the open tomorrow and at higher levels (if we see them). You can read my obituary next week <g> Regards. Rajiv