Steve Harmon

Investors in Internet stocks this year have been running with the bulls. On April 19 they discovered that bulls have horns as ISDEX fell an average of 18% in one day. The drop from the top prompted scores of experts to appear on CNBC, Bloomberg, etc. and dust off the ‘bubble bursting’ analogy while calling […]

Every correction needs a trigger. Here’s this one: a blurb in Business Week from an analyst who said Internet stocks were overdue for a correction sends ISDEX tumbling, down 16% to 499.67, its biggest one-day drop this year. However, I’ve seen these before and the blurb isn’t what sent them downward. An observation doesn’t make […]

First reader up this week writes: “I am an investor from Turkey and I would like to get your opinion on PTVL. As far as I am aware the company has 7mln user which puts the valuation for users at USD 38. Compared with other etailers what do you think the valuation should be?” Reply: […]

ISDEX finds some stability after a bout of profit taking. And no wonder after a year to date sprint of more than 100% gains. Investor focus the past few trading sessions has been on the Dow, which rockets to new highs. Lycos (NASDAQ:LCOS) expects to meet its fiscal third–quarter analyst estimates which First Call slates […]

The Los Angeles area is famous for many things: tinseltown, silicone (not silicon per se), amusement parks, and shaking up the terra firma on a regular basis with earthquakes. Therefore, it’s ironic that every year as Spring Internet World gets sprung, the Internet stock sector gets slammed. I saw this phenomenon last year and again […]

Coming off April 14’s 55-point drop, today’s slight downside looks pale as ISDEX loses 2.3% or 14 points while the Dow and NASDAQ jump. I see that as a positive sign that the market isn’t moving in a no-brainer concerted fashion. Nothing wrong with profit taking having a swipe at the Internet sector, which has […]

The Los Angeles area is famous for many things: tinseltown, silicone (not silicon per se), amusement parks, and shaking up the terra firma on a regular basis with earthquakes. Therefore, it’s ironic that every year as Spring Internet World gets sprung that the Internet stock sector gets slammed. I saw this phenomenon last year and […]

Internet stocks took a 55-point or 8% drop yesterday as measured by ISDEX, closing Wednesday at 608.57. The high the past 52 weeks was 696.76, which is more than 90% better than where ISDEX began the year. So the bellwether index is already off more than 80 points from the top in case bears start […]

Profit takers sell off some positions in Internet stocks to guess? pay taxes. Thanks to the Internet stock sector being the only one moving in warp speed, the runs this year allowed investors the opportunity to sell off and still be in the game. The selloff may inspire some buying back in after the next […]

Should Network Solutions shareholders be worried that the firm is losing its monopoly status? While U.S. taxpayers mark April 15 as the day of reckoning, domain registrar Network Solutions may be looking at April 26 as its day to start paying the piper. That’s when the registrar loses its monopoly grip on registering “.com,” “.net” […]

It’s blue-chip day as the Dow finds upside while the ISDEX and NASDAQ take a breather after surging in straight sessions to new highs. The moves now in Internet stocks look more targeted than even last week’s hurrah with a whole lot ‘a shaking going on in the merger space once again. Today’s snapshot: Critical […]

CMGI (NASDAQ:CMGI) continued to find feet and run through April 12’s close, due in part to its announced stock split. As one of my picks for 1999–up 467% since that pick–I want to take a closer look again at the acronym company. First off, in January when I added CMGI to my watch list I […]