How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 490.06

+0.7%

3:59 PM EST

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To: johnd who wrote (33277)	11/8/1999 5:41:00 PM
From: Gerald Walls	Read Replies (1) of 74651

I think today MSFT was a heavy buyer of its own shares for under 90. 120million volume. Who was buying? Maybe, but if they bought 1,000,000 I'd be shocked. The institutions were doing just what the fund managers all said should be done when they were interviewed over the weekend: taking advantage of the buying opportunity. It would appear that a decision almost as bad as the one handed out was already priced in. Also, the stock moved pretty strongly in the last hour. It's my understanding that companies can not buy their stock in the last hour of trading. This regulation is to prevent them from affecting the market.

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