Gearing Up for an Autumn Ascent
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Call it wishful thinking, but I'm genuinely optimistic that Internet stocks, battered and beleaguered for the past five months, will begin to show some strength over the next few weeks.
On what do I base this upbeat assessment? Wishful thinking, for one. But also, as I've said often recently, the round of Q2 reports coming out in the past six weeks or so has brought the Internet landscape into much sharper focus for investors. There's little room for delusion these days; red ink and vanishing cash reserves, not to mention Nasdaq delistings, are a clear sign of doom. Conversely, profits, large market share and robust revenue growth add up to a winning investment.
This fall, the winners will rise from the ashes of this year's market meltdown, in large part riding a wave of sideline money entering the game. The losers...well, when you've already lost 90% of your value, that extra 10% comes pretty hard.
PERFORMANCE BY SECTOR Ave. 7-Day % Change Wireless +18.2% E-tailers +11.0% E-commerce Enablers +9.4% Performance Software +7.7% Financial Services +7.1% Search/Portals +7.1% Internet Services +5.9% Advertising/Marketing +4.9% Content/Communities +4.4% Speed/Bandwidth +2.8% ISPs/Access Providers +2.0% Security -0.7% Consultants/Designers -10.8% TOP 10 GAINERS 7-Day % Gain Category ESTM E-Stamp 106.9% E-tailers LBRT Liberate 67.2% Performance Software SKDS SmarterKids.com 56.8% E-tailers PPRO PurchasePro.com 55.2% E-commerce Enablers GTHR GetThere 54.4% Performance Software IIIM i3 Mobile 51.1% Wireless BFLY Bluefly 50.0% E-tailers EDGR EDGAR Online 47.2% Content/Communities XCAR XCare.net 46.4% E-commerce Enablers FVCX FVC.com 44.1% Performance Software ALOY Alloy Online 43.0% E-tailers TOP 10 LOSERS 7-Day % Loss Category VIAN Viant -46.8% Consultants/Designers CYSV Cysive -39.3% E-Commerce Enablers CVGP Convergent -31.2% Consultants/Designers PXCM Proxicom -24.3% Consultants/Designers DSLN DSL.net -23.8% ISPs/Access Providers VCNT Vicinity -23.7% Internet Services TPN TownPagesNet -23.5% Content/Communities MSPR Mainspring -21.6% Consultants/Designers NTGX net.Genesis -21.1% Performance Software BWAY Breakaway Solutions -20.9%