Looksmart Limited (LKST)

[Smuggler]

Manassa

My simple view is that LOOK got way oversold on what was to be frank..........really nothing.

They are missing EDITDA for 2003.......

Big deal...........it was only 20 weeks ago LOOK investors were hoping LOOK would become GAAP proiftable!

It was only 20 weeks ago we were hoping LOOK would do $100m for 2002..now they have guided and reaffirmed for $150m for 2003 in revenues.

They simply reduced EBITDA on product roll out and head count.

One would think............you cannot make Revenues if you do NOT have product and or staff to close deals etc.

OK.........that does NOT explain where LOOK is going tomorrow but it does explain where LOOK is going.

In the short term i expect LOOK to trend higher and much higher once this Inktomi deal news is released.

It seems to me LOOK is not behaving as so many TA's will try and explain...........and i believe it is NOT trading on any TA issues.

It moved simply as an over reaction to the EBITDA guidance and GAAP result for Q1.

Of course people are trying to "second guess" where this will go in the short term.

And where we are at the moment...........i think thats ALL people are doing.......guessing!

Me included!