puteranimation.com

A few "undervalued" in ISDEX actually rise, though, as eager investors look harder for real value amid what some say is mega-hype. We'll play good cop, bad cop on this and say that any firm north of 20x revenue looks like a candidate for a long-overdue release of pressure. My doctor said Mylanta or at least those motion sickness wrist bands. A few cases are on the way to Wall Street.

Back in April the media had another headline party for Internet stocks and many said that too would pass. It did. And then the portals, ISPs and content stocks headed up again while nobody (but us) was looking. Three months later and the ride continues. Lesson: Internet stocks are like a rollercoaster, up and down and up and down.

So far the ups have exceeded the downs, providing for net gains. We're willing to believe that there's more room for strong brands. Why? Brands combined with capital and brain power can do a lot of things that any one of those elements on its own cannot.

Also expect content to finally get some more recognition. CNET (NASDAQ:CNWL) has had its pop now look for others.

Notable deal driven stock today is PSINet. PSINet (NASDAQ:PSIX) closes $46 million cash deals on four ISPs in France, Germany, Hong Kong and the U.S.

Today's stats:

	07-Jul-98	point change	% change
ISDEX	166.02	-6.25	-3.63%
ISDEX Price Wtd.	1,915.28	-123.75	-6.07%
NASDAQ	1,908.11	-1.36	-0.07%
DJIA	9,085.04	-6.73	-0.07%

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Evaluate Internet stocks beyond the hype

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