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Technology Stocks : TIBCO Software Inc - ( Nasdaq - TIBX )

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To: Mohan Marette who wrote ()	1/7/2000 7:42:00 PM
From: tradewright	Read Replies (1) of 289

From TheStreet.com... Call Me a Masochistic Buyer By James J. Cramer 1/7/00 3:50 PM ET What hasn't snapped back? What is lagging? Certainly not the drugs. So many people are short them ahead of the State of the Union speech that buyers are frantically making the bears pay. Not old tech, except for the disappointing action in IBM (IBM:NYSE - news), which I like. But call me a masochistic buyer. Not the Net, which is bouncing smartly. Nope, what isn't working is stuff that is coming off lock-up and is in syndicate. Take Tibco Software (TIBX:Nasdaq - news), one of my favorite stocks. We had a big hit in this stock last year, but we let a lot of it go after that super run-up. Now it is as heavy as an empty safe at the bottom of the Titanic. And why not? There is a lock-up expiration. But at this point I have to wonder how much more hammering there can be. Does it take into account that everyone who can sell will? Because at these prices, that probably isn't the case. What I wouldn't do to know the answer to that question. It is probably the key to the next 25 points. (Same thing with Digital Island (ISLD: - news), by the way.) Otherwise, we are interpreting the action as simply "bullish." At this point we expect that our 10% correction seems like history. Does that mean we can rejoice? Well, I feel better than I did yesterday, when I was surrounded by gloom and got the usual amount of "you are way too bullish, Cramer" stuff after my Lucent (LU:NYSE - news)-as-buying-opportunity filings.

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