How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 490.06

+0.7%

Dec 2 3:59 PM EST

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To: michael97123 who wrote (44700)	5/11/2000 4:05:00 PM
From: Jacob Snyder	Read Replies (1) of 74651

You may well be right. Anything said (by me or you) about future interest rates, inflation, and Fed policy is just informed speculation. It's a random variable that affects our wealth, but we can't control and can't predict it. Won't keep me from trying, though. It is reassuring that no one is saying "techs are immune to interest rate increases" any longer. A bit of sanity has crept into the prevailing mania mood. And at least 2 more 1/4 point hikes are in the market at current prices. So the market risk is less than it was in 4 months ago. I was at 70% cash in January. I'm down to 30% cash now. Another couple of Fed hikes, and a further 20-40% downmove in the Nasdaq, and I'll be back to fully invested. I'm buying, but cautiously, and then lightening up on the rallies. Reassuring to see buyers (for MSFT, WCOM, others) step in today and support levels hold.

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