Harry; I'm sorry, DSL difficulties have taken my attention just about all day & I will be out all morning tomorrow. So I don't know anything either!
Noticed this in the a.m. from Schaeffer..
For morning of 1/11/00: Although the market is likely not free of the possibility of a sharp quick pullback (two percent variety), it should not be worse than that. The possibility of a strong gain is high. The probability of a gain of four percent for the OEX is much higher than average. For those more interested in the techs, the size of these moves will be amplified as the NDX is quite capable of moves twice (or more) the size of the OEX.
Also, if the Naz pulls back beyond 3705, it will be looking more like an intermediate downtrend.
Dorothy
From Briefing, in case you didn't see it..
The Internet Grows : A major development announced today. The first undersea fiber optic cable between the US and China finally opens. This long awaited development is being heralded as a telephone achievement, but the real significance is that now we have fiber optic networks stretching from Europe to China virtually uninterrupted. The only real gap is from Europe to China via western Asia, but that may not be necessary. The fiber optic global network is owned, in pieces, by numerous companies. This particular fiber optic cable was shared by AT&T, China Telecom, NTT, MCI/Worldcom, Sprint, Teleglobe, and numerous other Asian companies (see the press release). With telecom companies owning a huge infrastructure of fiber networks, and fiber companies building out significant localized segments, the global fiber network is a fragmented market. But it won't stay that way forever. Eventually, probably in less than three years, consolidation in fiber networks will start to take place. The smaller telecom companies with fiber networks will be first, Winstar (WCII) and Williams Communications (WCG), for example, then the pure leased fiber networks such as Global Crossing (GBLX), Metromedia Fiber Network (MFNX), and Northeast Optic Network (NOPT). In an ironic twist of the basic supply/demand principle, the value of all fiber networks actually increases as more fiber is created. For now at least, more global fiber enables more demand for services. And since fiber can carry phone calls and data, and whatever the new era of broadband heralded by the AOL/Time Warner merger brings, more services means more demand for fiber capacity. The economics of fiber networks is that adding new capacity costs much less than building new networks, which means the price per capacity actually drops, by orders of magnitude, as the system is built out. All in all, this means that today's announcement of the first fiber optic cable linking the US with China is a major event, for all fiber networks, and for the future of the global internet. It is all going to be here sooner than you think. - RVG |
