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Technology Stocks : Intel Corporation (INTC)
INTC 40.03-1.3%3:59 PM EST

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To: Jim McMannis who wrote (86576)8/4/1999 9:36:00 AM
From: John F. Dowd  Read Replies (3) of 186894
 
JMM: Toll Bros builder of good custom homes have experienced 30% growth over last 5-10 yrs. Stock sells at 8x. This AM CEO Mr. Toll inferred that the only thing that is inflating in their business is the cost of money. Another Mortgage guru said applications were way down as mortg. rates hit 8+% because of the fear of what the Fed might do. In other words the pressure for mortgage increases is not coming from the buy side but rather from the bank side due to a fear of the Fed. Once again I pose that the Fed has become too hyperactive and proactive in micromanaging the markets. With regard to your comment on net stocks that might be a reasonable speculation if their name was Long Term Capital Appreciation but for the average Joe they will simply take a big bath. The equating of those who dislike AG's meddling to greediness is the kind of statement that someone from the White House might make. Indeed someone has an axxe to grind and I grind mine on the wheel of government interference. JFD P.S. my cost bais for INTC is 7 except for the LEVL shares that I bought below 18 a year to 18 mos. ago.
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