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Technology Stocks : E Loan Inc -EELN
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To: Ken Whiteside who wrote (706)9/3/1999 6:51:00 PM
From: Gary Metzer  Read Replies (1) of 817
 
Ken,

I probably wasn't too clear in prior post. While I lightened up my portfolio big time, I'm still holding my EELN IPO shares and expect 50+ in time. They are branching out and I believe that B of A move was a big validation of their plan. I lightened up some more today, selling ADFC and some more CMGI.

Bob Pisani on CNBC made a good observation today when he said that this week the Fed said that they were going to be watching Wall Street much more closely, realizing that the obscene gains might be a type of inflation, or at least that's how I read it. So, the Fed is watching Wall Street and Wall Street rallies (largest point gain on NASDAQ ever today), which makes the Fed watch Wall Street even more. For traders to bid up the stocks to even more obscene levels (in the Fed's eyes), I can only see that as being a great reason for increasing our caution level.

Still made good gains today, but feel much more at ease holding 65% cash.

Good luck

Gary
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