How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 478.46

-1.7%

3:59 PM EST

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To: Uncle Frank who wrote (28029)	8/9/1999 5:38:00 PM
From: limtex	Read Replies (1) of 74651

UF - An almost identical re-run of last August so far. NAZ average 1% per day down with a couple of up days which always turn out not to last and every day down badly at the end as people day in and day out reduce exposure to stocks. I'll have a look at last years chart as I have a feeling that we are even worse than last year as we are only at the 9th August and down 12%. As we get nearer to earnings for Q3 the reality of the strength of the economy especially the tech stcoks will become clear and fund managers, concerened that they will lose their jobs will start to buy again to tart up their results in time for the end of the quarter. Meantime Mr Greenspan will need some serious 'bad' economic news like a further reduction in unemployment or an increase in workers wages in order to prevent the market from gaining again at the end of September. He knows that many people will now be wise to this routine and the Fed will be desperate to try and keep the market down. Best regards, L

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