Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Booking Holdings (formerly Priceline) -- Ignore unavailable to you. Want to Upgrade?

To: Craig Richards who wrote (1458)	5/23/1999 10:39:00 PM
From: Tom Hua	Respond to of 2743

Craig, interesting comments from Andy Grove tonight. Regards, Tom LOS ANGELES (May 23) -- Companies that have yet to go online should do so now, or they will fold within a few years, the chairman of Intel Corp. warned investors at a business survival seminar. ''In five years, there won't be any Internet companies because they will all be Internet companies,'' Andrew Grove, head of the world's largest maker of computer chips, said Saturday. ''Otherwise they will die.'' Intel, which Grove helped found in 1968, has seen its Internet business grow from zero percent in 1997 to a projected 42 percent this year, he said. Even junkyards have gone online, acquiring cars, stripping them of parts, cataloguing them, and then filling Internet orders from all over the country, he said. Buyers and sellers don't even have to talk to each other at the same time to conduct business online. Thanks to e-mail and other devices, they can communicate regardless of time or place, extending the business day. But simply being online isn't enough, Grove said, as he cautioned investors that many Internet companies that are getting a lot of publicity now won't be around for the long haul. Those that survive will employ traditional business tenets, like being customer oriented, he said. (my comments: PCLN lacks customer service, the worst customer service I've encountered. Everybody, try calling PCLN and letting us know how long you are put on hold) Grove spoke at the third annual Los Angeles Times Investment Strategies Conference at the Los Angeles Convention Center.

To: Craig Richards who wrote (1458)	5/24/1999 12:36:00 AM
From: $Mogul	Read Replies (1) \| Respond to of 2743

I am NOT DEFENDING PCLN on the Patent matter, but under US LAW a early Filing has no LEGAL bearing on the Patenet. In the US it is the person/company who INVENTS the idea who wins in court. After hearing Mr. Woolan on CNBC, he seems as if he doesen't have a chance. Just my .02. $mogul

To: Craig Richards who wrote (1458)	5/24/1999 1:27:00 PM
From: Tom Hua	Respond to of 2743

Craig, I just took some profits off PCLN. Shorted CUST at 69 1/4, and 88. Regards, Tom

To: Craig Richards who wrote (1458)	5/25/1999 8:30:00 AM
From: Tom Hua	Read Replies (2) \| Respond to of 2743

Craig, note Blodget's comments below. This is the guy who pumped PCLN just days ago. Its people like him that cause the small retail investors to buy on dips and lose a lot of money. Regards, Tom Web Firms See Stocks Drop Into Bear-Market Territory By SUSAN PULLIAM and TERZAH EWING Staff Reporters of THE WALL STREET JOURNAL The numbers are grim: Shares of Yahoo!, down 43.5% from the high for the year. Amazon.com, down 46.9%. Ameritrade Holding, down 50%. America Online, down 31.9%. Inktomi, down 35% and Priceline.com, down 24%. The biggest bubbles seem to be bursting. Join the Discussion: Do you think Internet stocks will avoid a bust? While most Internet stocks have posted healthy gains for the year, practically all of the major companies have seen their shares fall precipitously from their peaks -- capped by the sector's nearly 8% rout Monday. As a result, some market watchers conclude that the Internet stocks -- at least for now -- have entered a bear market, with all of the major indexes off more than 20% from their peaks (the rule-of-thumb definition for a bear market). "I think the air is coming out of the bubble," said Morgan Stanley strategist Barton Biggs. "It hasn't been a free fall. But when the companies report good news and the stocks still go down, you know something is wrong." The Dow Jones Internet Index, after its 7.96% fall Monday, is now down 26.1% from its April 13 peak, though still up 50.4% for the year. Water Torture Internet stocks have taken big drops before. One came only a little more than a month ago -- shortly after the group's peak -- when Internet shares took a swoon of nearly 20% in one day as measured by the Dow Jones Internet Index, before staging a temporary comeback. What's different about this drop, however, has been its water-torture quality, analysts said. "This has been a long, slow decline relative to other pullbacks," said Henry Blodget, Merrill Lynch's Internet analyst. "In that environment, you have a lot of people really losing money. They get in thinking it's the bottom and then they end up losing even more money."