How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 492.01

+1.3%

Nov 28 9:30 AM EST

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To: vc21 who wrote (32305)	11/6/1999 3:34:00 PM
From: John F. Dowd	Read Replies (1) of 74651

vc21: Where is the selling pressure coming from? Retail or institutional? Funds might not want to take the cap gains tax hit as I am sure that they are low cost basis owners. Those funds who wanted out have been selling all along right up until this point. Yesterday 40% of the volume was block trades. Even after the judges decision the after hrs quotes were down to 86 and then back up to 87 and change. The spreads were reasonable on both Instinet and Island where 1.6 million shares were handled after the close. No doubt a downward bias but I think everyone expected this decision - they just didn't expect the judge to be so obviously prejudiced in his rhetoric JFD

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