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March 31, 2011

VALUATION WATCH: Our models find that overvaluation is
approaching critical levels. Overvalued stocks now make up
almost 62% of our universe and 30% of the universe is
calculated to be overvalued by 20% or more. All Sectors are
calculated to be overvalued.

Ruling the Tubes

Internet Firm Internap (INAP, $INAP) Leads ValuEngine Forecast Screen
Internap Network Services Corporation (Internap, INAP, $INAP) is an Internet
solutions and data center company providing a suite of network optimization and
delivery services and products that manage, deliver and distribute applications. Its
private network access points (P-NAPs) feature multiple direct high-speed
connections to major Internet backbones, also referred to as network service
providers (NSPs), such as Verizon Communications Inc., Global Crossing Limited, Level
3 Communications, Inc., XO Holdings Inc. and Cogent Communications Group, Inc.

A screen for undervalued/top-ranked one-month forecast stocks with market

prices in excess of $3.00 and average volume in excess of 100k shares/day performed
with our Institutional software package (VEI) found Internap near the top of the list.

ValuEngine has issued a STRONG BUY recommendation for Internap on Mar. 31,
2011. Based on the information we have gathered and our resulting research, we feel
that Internap has the probability to OUTPERFORM average market performance for
the next year. The company exhibits ATTRACTIVE expected EPS growth, 5-year
annualized return and market valuation.
 Based on available data as of Mar. 31, 2011, we believe that INAP should be
trading at $6.7. This makes INAP 1.49% undervalued. Fair Value indicates what we
believe the stock should be trading at today if the stock market were perfectly
efficient and everything traded at its true worth. For INAP, we base this on actual
earnings per share (EPS) for the previous four quarters of -$0.05, forecasted EPS for the
next four quarters of $0.04, and correlations to the 30- year Treasury bond yield of
4.52%.
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MARKET OVERVIEW
Summary of VE Stock Universe
Stocks Undervalued 38.26%
Stocks Overvalued 61.74%
Stocks Undervalued by 20% 16.31%
Stocks Overvalued by 20% 30.37%

SECTOR OVERVIEW
Sector Change MTD YTD Valuation Last 12- P/E
MReturn Ratio
Aerospace 0.98% 4.61% 15.30% 15.01% overvalued 26.23% 18.91
Auto-Tires-Trucks 1.36% 1.81% -2.64% 10.88% overvalued 35.48% 20.18
Basic Materials 1.13% 0.69% -0.17% 13.76% overvalued 52.94% 44.64
Business Services 0.83% 2.13% 4.67% 9.77% overvalued 13.96% 50.24
Computer and Technology 0.75% 2.26% 11.84% 9.40% overvalued 31.91% 41.1
Construction 0.37% 1.72% 1.73% 10.39% overvalued 11.14% 36.21
Consumer Discretionary 0.97% 1.21% 4.51% 11.06% overvalued 16.51% 32.36
Consumer Staples 0.69% 0.36% -0.15% 9.79% overvalued 14.17% 21.33
Finance 0.75% -0.53% 2.75% 8.06% overvalued 9.16% 26.38
Industrial Products 0.93% 2.95% 6.30% 10.50% overvalued 25.78% 35.62
Medical 0.82% 3.42% 11.52% 1.53% overvalued 14.06% 38.1
Multi-Sector Conglomerates 1.32% 3.70% 5.29% 17.08% overvalued 27.65% 27.8
Oils-Energy 1.05% 3.20% 12.71% 27.45% overvalued 46.83% 46.59
Retail-Wholesale 1.07% 4.44% 5.38% 9.07% overvalued 20.59% 24.63
Transportation 1.03% 3.86% 0.39% 13.08% overvalued 22.37% 21.64
Utilities 1.03% 2.63% 3.81% 10.86% overvalued 16.29% 21.81