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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: Ramsey Su who wrote (32499)	11/5/1999 7:53:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

Ramsey, MSFT is easily THE most important tech stock...it's actually THE most important stock, period. if it were to go to a 10x sales valuation as you suggest (i.e. stripped of it's monopoly premium), it could possibly trigger a major sell-off in the market overall. this is mainly a sentiment issue, as MSFT has the aura of utter invincibility, and if such a widely held and revered giant get's booted from investment heaven, then who can be considered safe? MSFT's weighting alone means it could considerably dent the NAZ,NDX, SPX and OEX. it's even in the formerly dowdy Dow now (but doesn't carry as much weight there). the market is about liquidity (ample) and sentiment (fickle). if MSFT should indeed fall from grace, that would be very negative, no doubt about it. regards, hb

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