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<DIV><FONT face=Arial size=2>Sign me up. Sounds like a good way to cut your
teeth on trading stocks. </FONT></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
<DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
<A href="mailto:rbaker@xxxxxxxxxxxx"; title=rbaker@xxxxxxxxxxxx>Robert
Baker</A> </DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx</A> </DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Friday, June 23, 2000 11:57
AM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> [RT] Bragging Rights</DIV>
<DIV><BR></DIV>
<DIV>To Anyone interested,</DIV>
<DIV> </DIV>
<DIV>I propose a stock trading contest among the members of RT. There is
a web site virtualexchange.com that will allow us to form a group of
traders that can trade independent portfolios. Since the site is free,
it is just a matter of members' interest. I propose a contest that
begins July 3,2000 (Monday) and concludes the last trading day of 2000.
The program updates everyone's portfolio automatically and ranks the
participants according to returns. I do not believe it allows futures
trading and I am not sure about mutual funds but I do know that you can buy or
short sell stocks. It allows virtual accounts of up to 500K but I
suggest we limit our accounts to 50K to be more realistic about true capital
abilities. I await any interest.</DIV>
<DIV> </DIV>
<DIV>bob</DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Fri Jun 23 20:10:02 2000
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From: "James Taylor" <jptaylor@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Subject: [RT] When Short-Selling, What Happens When a Stock Goes to Zero ?
Date: Fri, 23 Jun 2000 17:32:31 -0700
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<DIV><FONT face=Arial><STRONG>Amazon’s nosedive drags down
sector</STRONG></FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
By Bambi Francisco,
CBS.MarketWatch<BR>
Last Update: 6:14 PM ET Jun 23,
2000 <BR> </FONT><FONT
face=Arial
size=2><BR>
NEW YORK (CBS.MW) -- Amazon.com lost a fifth of its market
value<BR>
on Friday as concerns about the online retailer’s revenue outlook cast
a<BR>
cloud over the Internet sector ahead of the second-quarter
earnings<BR>
season. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
The Goldman Sachs Internet Index ($GIN: news, msgs) lost 6 percent
for<BR>
the day and the week. The Merrill Lynch Internet Holdrs (HHH:
news,<BR>
msgs), a security that represents a basket of Net stocks, lost 6.3
percent,<BR>
and the Amex Internet Index ($IIX: news, msgs) declined by 4
percent.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
For the week, Amazon.com and Commerce
One<BR>
suffered the biggest losses. Amazon.com
(AMZN:<BR>
news, msgs) fell 19 percent Friday to 33 7/8,
for<BR>
a decline of 28 percent on the week.
Commerce<BR>
One (CMRC: news, msgs) gave up 5 percent
on<BR>
the day, ending the week down 17 percent to 42. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Reality bites</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Following next week's meeting of Federal Reserve
policy-makers,<BR>
earnings season will begin in earnest when Yahoo (YHOO: news,
msgs)<BR>
kicks off the second-quarter reporting season on July 11. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
But it’s always prudent for analysts to conduct company check-ups
prior<BR>
to those reports. Last week, EBay took an 18-percent hit on concerns
the<BR>
Net leader wouldn’t beat revenue or earnings expectations, as it has
been<BR>
known to do. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Now, the latest sneak-preview report card on Amazon.com has
raised<BR>
concerns yet another Net bellwether isn’t going to make the grade. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Morgan Stanley’s Mary Meeker believes that there is “probably
no<BR>
upside to revenue estimates for the second and third quarters,”
according<BR>
to a Morgan Stanley spokesperson. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Meeker expects Amazon to generate $600 million in revenue in
the<BR>
second quarter and $650 million in the third quarter. But Amazon may
not<BR>
even meet Meeker’s projections. Both Meeker and Goldman
Sachs<BR>
analyst Anthony Noto are on the high-end of analysts’
revenue<BR>
projections.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Merrill Lynch analyst Henry Blodget, whose revenue view is in line
with<BR>
consensus estimates, does “not expect upside,” to his numbers,
citing<BR>
Amazon’s traffic numbers as measured by Media Metrix.
Additionally,<BR>
Blodget points to a slowdown in consumer spending.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Analysts surveyed by First Call expect Amazon to generate $584
million<BR>
in sales, up 2 percent from the prior quarter. Additionally, Amazon
is<BR>
expected to lose 35 cents a share, compared to a loss of 26 cents a
share<BR>
in the same quarter last year and a loss of 35 cents a share in the
previous<BR>
quarter.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Representatives for Amazon.com weren’t immediately available
to<BR>
comment. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Analysts, meanwhile, found it difficult to get the online retailer to
shed<BR>
more light on its business. “We have spoken to the company several
times<BR>
in the last few weeks,” said Blodget, who issued a report
reminded<BR>
investors that he did issue a note two weeks that reflected his
concerns<BR>
about the company. “We have not received additional color about
the<BR>
company’s performance,” he said. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Amazon is expected to report after the close of trading on
Wednesday,<BR>
July 26. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Contributing to Amazon’s weakness was a call regarding its
credit.<BR>
Lehman Bros. said in a research note that, from a bond perspective,
it<BR>
finds the credit “weak and deteriorating.” This stems from the
company’s<BR>
“negative operating cash flow, poor working capital management
and<BR>
increasing debt,” the note said. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
And what are portfolio managers saying? “So, far Amazon.com has
only<BR>
proven that their business model works for books,” said Larry Seibert,
a<BR>
portfolio manager at Barrett Associates. “I don’t buy my tools
from<BR>
there.” </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
No catalyst</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Shares of other Net bellwethers followed
Amazon<BR>
lower. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
EBay (EBAY: news, msgs) lost 4 5/16, or
7<BR>
percent, to 53 7/8, after investors sold the
stock<BR>
down to 50. EBay fell 13 percent on the
week,<BR>
extending last week’s 18-percent dive. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Derek Brown, an analyst at W.R. Hambrecht lowered his rating on
EBay<BR>
to a “buy.” Though Brown views EBay as a “core” Internet holding, he
is<BR>
“challenged to find a meaningful near-term catalyst” for its shares.
</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Yahoo (YHOO: news, msgs) declined 6 3/8, or 5 percent, to 125
5/16.<BR>
For the week, Yahoo lost 10 percent. Brown also weighed in on
Yahoo.<BR>
He expects Yahoo to report second-quarter results that are
“modestly”<BR>
ahead of his expectations, even though the “recent weakness in the
online<BR>
advertising marketplace is clearly taking a toll on its business.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Even the recent high-fliers in the Net infrastructure space came
tumbling<BR>
down. InfoSpace (INSP: news, msgs) lost 7 percent to 52;
Exodus<BR>
(EXDS: news, msgs) fell 6 percent to 48 9/16. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
But with Friday’s weakness, Barrett Associates' Seibert said there is
an<BR>
opportunity to take a closer look at good quality stocks. EBay may
be<BR>
among the stocks worth doing homework on, he said. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Pankopf’s dot-com survey</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Goldman Sachs analyst Tonia Pankopf recently released a survey of
18<BR>
Internet companies to assess their exposure to dot-com advertising.
She<BR>
found that of those surveyed, only 35-to-45 percent received
advertising<BR>
from dot-coms. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Even so, those sales came from established players, like Yahoo
and<BR>
Amazon.com. Of the 40 percent with dot-com exposure, only
10-to-15<BR>
percent said they were “susceptible to weakness, “ in revenue. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Until advertising-supported companies report quarterly results,
“investors<BR>
will remain somewhat jittery,” said Goldman Sachs Pankopf.
“Most<BR>
companies will have solid quarters but will not substantially beat
top-line<BR>
expectations,” due to modest exposure to dot-com business, she added.
</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
B2B highlights </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
While the projected slow down in online advertising spending,
consumer<BR>
spending and Internet traffic growth took a toll on
business-to-consumer<BR>
stocks, investors shifted their sights to areas where business seems to
be<BR>
booming. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
Ariba (ARBA: news, msgs) lost 2 7/8 to 88 9/16 on Friday. But
shares<BR>
rose 20 percent on the week on optimism that demand
for<BR>
business-to-business e-commerce solutions remains robust. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial
size=2>
PurchasePro (PPRO: news, msgs) rose 8 percent to 41 9/16, for
a<BR>
weekly gain of 21 percent. Ian Toll, an analyst at CS First Boston, said
he<BR>
believes PurchasePro’s second-quarter revenue could top $7
million.<BR>
Toll’s second-quarter revenue estimate is $6.6 million, but he believes
an<BR>
“upside of 20 percent or more is likely.” <BR></FONT></DIV></BODY></HTML>
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Status:
http://www.comnetwork.com/
The above is the link you are directed to when you go to
virtualexchange.com .
I guess there is a mistake somewhere .
To Anyone interested,
I propose a stock trading contest among the members of RT. There
is a web site virtualexchange.com that will allow us to form a group of
traders that can trade
independent portfolios. Since the site is free, it is just a
matter of members' interest. I propose a contest that begins July
3,2000 (Monday) and concludes the last trading
day of 2000. The program updates everyone's portfolio
automatically and ranks the participants according to returns. I do not
believe it allows futures trading and I am
not sure about mutual funds but I do know that you can buy or short
sell stocks. It allows virtual accounts of up to 500K but I suggest we
limit our accounts to 50K to be
more realistic about true capital abilities. I await any interest.
bob
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