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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: Larry S. who wrote (21927)	1/16/2000 5:06:00 PM
From: Ron McKinnon	Read Replies (2) of 53068

Old Tech Rules By James J. Cramer 1/14/00 10:44 AM ET Old tech is still ruling. There is just too much insider selling of new tech to make it work right now. We have to cut through so much ballast that it makes exploding these stocks higher too hard. The impact of these sales can be seen, most clearly, in the charts. Take a look at the two charts at the bottom of Gary B Smith's excellent column this morning. He touches on two companies I like very much fundamentally: Scient (SCNT:Nasdaq - news) and Commerce One (CMRC:Nasdaq - news). Both of these companies are in the sweet spot with B2B. When I talk to Matt "They are Nuts to Sell" Jacobs, he points out that the numbers for both of these are probably too low But the insider selling wrecked the chart. As this is a very technically driven market, it is freaking out the individuals who buy or sell on charts. Old tech has no such selling. These stocks are seasoned and when insiders sell it is not by the boatload or by the truckload, but typically by the back seat or the trunk of a Volkswagen Beetle. That, the market can handle. It is why I still favor the old over the new.

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