Why do you think it will last 1-2 months? It
could and AOL could get into the 80's (I have a few
limit orders down there just in case) but it could just
as easily roar back. I've been following the
movements closely. This market wants to go up. The big cap
favorites are holding the line. And as long as they do I
can't see the inet bubble popping.
I try a good natured fun and you bring it to an
insult. There are people who count on $20 a day to live.
I hope you and your money are happy because it's
the only thing that seems to make you happy.
I don't think AOL has much more downside
potential. This Friday will be the last hurdle then a nice
rise as we get close to earnings season IMO. AOL has a
bunch of cash and an interest rate hike won't cut into
profits. The decline is a macro decline and should reverse
real soon. Fingers and toes crossed!
value....IMO, this market is setting up for a
pretty nasty short squeeze if that report comes in as
expected....futures are indicated at -1.00 so we are 3 points over
FV....this tells me there were some big buying on close
if aol breaks 100 level look out, no telling
where the selling will stop. aol previously tested 105
during very short (1-2 day drops) but overall still had
a ton of speculator buying momentum behind them.
That momentum has now faded in this rather extended
correction which looks to last for 1-2 more months
Internet Economy Bigger Than
WASHINGTON (June 10) - All those Furbies,
Tamagochis and ''Star Wars'' toys bought at Web auctioneer
eBay sure add up.
While some have estimated
annual Internet sales in the tens of billions of
dollars, a new study from the University of Texas and
financed by Cisco Systems Inc. found that U.S. companies
generated a whopping $301 billion in revenue last year from
online-related goods and services.
The total, derived
from interviews with about 3,000 companies
participating in the Internet economy, included $102 billion of
Internet commerce, such as sales of books by Amazon.com,
toys at eToys.com and even subscriptions to
Sales by intermediaries, like stock
trades and online travel agents, totaled $58 billion in
1998, the study found.
Nearly half the total
came from the hardware and software used to build the
infrastructure of the Internet and electronic commerce.
The study found $56 billion was spent last year on
software, consulting and training to provide Internet
services and another $115 billion was spent on hardware
and software to run the lowest layers of the global
To avoid double counting some
revenues, the $301 billion total included a $30 billion
reduction from the sum of the four separate categories.
The end results ``seem to exceed all prior
estimates,'' said University of Texas Associate Professor
Anitesh Barua, who co-authored the study. Starting from
almost no online commerce three years earlier, ``the
growth rate is nothing short astounding,'' he said.
The study also estimated that 1.2 million U.S. jobs
were involved in Internet commerce.
Brothers senior economist Ethan Harris said the study
demolished an assumption by many analysts that Internet
sales were concentrated among a few big companies.
``What they found, in fact, is that there are thousands
of companies selling on the Internet,'' Harris said.
``That argues for continued growth.''
figures also put the Internet portion of the economy on
par with other more established sectors like
automobiles and telecommunications.
already achieved a status of great prominence in the U.S.
economy,'' said Cisco development manager Doug Karmin.
Cisco, the leading provider of Internet switching gear,
has seen its stock skyrocket in recent years, already
rising more than 20 percent so far in 1999, on the back
of the Internet growth wave.
Copyright 1999 Reuters Limited. All rights reserved.
Republication or redistribution of Reuters content, including
by framing or similar means, is expressly prohibited
without the prior written consent of Reuters. Reuters
shall not be liable for any errors or delays in the
content, or for any actions taken in reliance thereon. All
active hyperlinks have been inserted by AOL.
Apologies for this off-topic posting, but I'm
unselflessly, to get the word out about
the stock of a
company by the name of Biovail
(symbol: BVF) which, yes, I
also own in addition to
Here's the story: Yesterday a lawsuit was settled
Hoechst and Andrx (symbol: ADRX)(news of the
can be found at the ADRX Yahoo stock page). I don't
a whole heck of a lot of people have yet
Biovail, which like its competitor Andrx
is a generic drug
maker of controlled release big
name drugs, also benefits in a
big time way from
the settlement. The settlement allows
begin selling, for the first time, a generic
of Cardizem CD, a heart medication with sales in the
alone of $700 million. What the news story doesn't
(since it's a press release of Andrx) is that after not
180 days, Biovail will also now be
permitted to begin selling
its Cardizem CD generic
(under the law, there's a 180 day
bar window before a
second generic maker can enter in). So
will in fact be getting a piece of the
Cardizem pie. Biovail, in my estimation, has been
undervalued based on its stellar earnings track record
earnings forecasts - which should be going up by quite a
now, perhaps by $0.70 per share by some estimates.
stock has already started making a move up, I think
as a few people are beginning to understand the full
the settlement. BVF also has a large short
13%) which should further drive the
price as covering begins.