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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Retired Eagle One who wrote (29779)1/4/2000 11:48:00 PM
From: ToySoldier  Read Replies (1) of 42771
 
The first week sell-off was predicted by a few analysts in the dying days of 1999. One of the main reasons I heard in 99 was that the investors which had been seeing day after day of new highs in many of the sectors (specially the tech sector) would be foolish to lock in their gains in the 1999 tax year when they could lock them in a couple days later in 2000 and thereby deferring the declaration of capital gains till the next tax year.

That combined by the Y2K bug being a no-show as far as the media and public are concerned is speeding up the pace of the fear of interest rate hikes in Feb.

Also, from what I understand the fund managers have until the end of January to close their books on 1999 so some analysts predicted that the fund managers may ride the crest as long as the 3-4 week of Jan before locking in and closing the books. These fund managers also would be concerned about the Feb interest rate rise.

Well because of the Y2K no-show, and the crest seeming to sink quickly (because of the expected fist days of trading for tax purposes), I would think many of these fund managers might have decided to close their books earlier than the end of Jan.

Well this just keeps the downslide going even faster. I would think tomorrow will also not be a good day for the markets until all these factors stabilize (i.e. people lock in their profits and the analysts feel we investors have suffered enough to appease God GreenSpan in Feb). Then people will be looking for the deals and off we go looking for new highs in the indexes again.

Just my opinions.

Toy
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