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Technology Stocks : IDTI - an IC Play on Growth Markets
IDTI 48.990.0%Mar 29 5:00 PM EST
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To: Don Yeager who wrote (4276)10/17/1997 7:41:00 PM
From: Rob S.   of 11555
 
To ALL;

I think the recent pull back in the stock market and IDTI creates an excellent buying opportunity. This sell-off occured because a number of concerns came together to pull money out of the market. One factor was that Japanese institutions and investors have ditched out of US securities because of fear of and sympathy with a trade dispute over opening of Japanese ports to foreign trade. Other factors include Greenspans remarks followed up by higher than expected housing starts and industrial output figures that signal the chance for higher than expected inflation rates. The market ignored other figures that show a lowering of industrial and raw resource commodity prices. These antagonists fell on a market that was short-term overbought and had grown "tired". Even news of better than expected earnings failed to lift stocks.

I think we will see a re-bound, although not to the levels of the previous highs. We may get another re-testing of the lows of today and perhaps continued downward pressure in some stocks, but should end the week at a higher level than we begin it. Stocks that have shown relative strength through this week should fair particularly well.

This is just my guess and I will be watching the spin the news media and investment programs put on the recent events.
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