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Technology Stocks : priceline.com Inc. (PCLN) -- Ignore unavailable to you. Want to Upgrade?

To: George Gotch who wrote (36)	4/27/1999 11:51:00 PM
From: OFW	Read Replies (1) \| Respond to of 55

George, I think most of us would agree with the assertion that valuation of today's hot internet stocks is questionable. However, allow me to use your statement that you love Beck's but that you wouldn't pay $500 for a six-pack as an example. We are not drinking a can of beer here --- we are buying and selling speculative securities hoping to make a buck or two. I fully agree that I would not pay $500 for a six-pack just for the love of a good beer. However, if I felt the demand was such that I was able to turn around and sell that same six-pack for $600 - then I most certainly would pay the $500! That's the only thing really keeping these prices up --- as long as there is someone else who is willing to pay more than the last buyer paid, the stocks will continue to go up and up. However, as with any other speculative purchase, the ones who will get hurt are those who paid $600 for that six-pack only to discover that wine is now in vogue and there are no more buyers for a six-pack of beer. Simple as that! Offie