How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 478.04

-1.1%

3:59 PM EST

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To: Joan Osland Graffius who wrote (2729)	8/15/1997 9:45:00 PM
From: mxyztplk	of 74651

Joan, Thanks for contributing these points of reference. Placing these swings in historical context is always helpful. And, in answer to your question, I dare to venture that Intel and Microsoft will most likely still be in business on Monday. < g > Another item to consider is that the NASDAQ as a whole (with its tech-heavy constitution) is holding up very well so far during this correction. And it is more than a little true that those sectors which hold up the best during a correction tend to do best during the following advance. Also for historical context: typical corrections retrace about one-third or slightly more of the preceding rise. We were up roughly 2000 points from the start of the up-leg to the point that this correction began. If this correction is "typical" that would mean roughly 700 points of retrace, or down to the mid 7500s on the Dow. [Of course, "typical" here means average, so it could be somewhat more or less and still be placed in the category of a normal correction.] [Buying opportunity here somewhere, for those who are truly needy. < g > ] IMHO Best regards, Arno

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