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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 7 4:00 PM EST

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To: Ron Mitchell who wrote (53653)	6/10/2000 8:21:00 PM
From: Stephen	Read Replies (1) of 99985

Ron, I'm not sure I agree with you about the earnings disappointment part. INTC, MSFT, DELL, LU, IBM come to mind off the top of my head as biggies disappointing recently, and I know there's a couple of other big names I can't recall for the mo. Without returns from capital & the sale of stock generated by investment in internuts that went public, their numbers would have been even worse. Lets face it, if productivity is improving, pricing power is limited, and there's seemingly more tech companies in the same space than ever before, how can operating revenue growth be maintained ?. Its just not possible ... Stephen

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