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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Adelle who wrote (53260)7/28/1999 2:34:00 AM
From: Shirley A  Read Replies (2) of 120523
 
Net Stocks: Blodgett sees a buying opportunity for Net stocks for those willing to hold through near term volatility until December. Merrill's Blodgett, in a 7/27 TheStreet.com article, is quoted by Shabelman as saying that "Bottom line: We think if you buy the leading Internet stocks now, they will be higher by December, but may be volatile over the near term." Near term losses are possible due to '"weak summer seasonality," lack of 'immediate catalysts,' rising interest rates, and 'questions/issues surrounding industry bellwethers.'" "'Therefore, we should not be surprised to see additional weakness throughout the balance of the summer as investors trim positions and head for the beach." '"For investors concerned about month-to-month or day-to-day performance, our forecast is hazier. We don't see any major sector catalysts until September, when the country returns from vacation and the first positive traffic reports may begin to trickle in." Shabelman writes that Blodgett sees a "number of positive catalysts, including strong traffic, advertising and commerce, driving the sector higher by the end of the year.'"

Night, Gemmers

Shirley
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