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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Marconi who wrote (957)	5/9/1999 1:42:00 AM
From: jeff nightbyrd	Respond to of 10293

Dear Marconi, I wish I could claim some timing genius, but I've thought these internet stocks have been over-valued for a year. Six months ago I gave up shorting them. Then about 10 days ago the momentum looked liked it had changed so I started buying puts. Maybe it was dumb luck... I was wrong so many other times. With these recent gains I'm about even for the last year on these stocks. AOL worries me because it has substantial monthly income. Though I have a cable modem now and over the next year cable modems and adsl lines will be a big threat to AOL. EBAY is wonderful, but others can start on line auction sites and many items work best sold on a city by city bases. Ditto for AMZN. I love Amzn and buy there frequently. But their worth would be excessive even if they were selling every book that was purchased in the United States. Yhoo..I think internet portals will rise and fall over time. I expect Alta Vista to erode because they sell their search space to the highest bidder. Why would a rational person use a search service like that? For YHOO i don't think their revenue stream is very secure. What this means is timing is everything. Most rational investigators think these stocks are still vastly over valued. Right now my instinct is to hold May Puts for at least the rest of the week. I believe the chartests can't read the internets because they are true anomalies. I wouldn't be surprised to see a day of panic selling. Thanks for your response. This used to be a great forum and but it seems to have dried up lately.