I have been out of town for 2 weeks, so chalk up whatever I have to say as old news, or no news. there is an interesting article on the Bloomberg #BN 261253 tonite, which goes a long way in explaining the group in general.
A few highlights. The slide has been fueled by dissapointing sales at top code rewriters Viasoft and peritus. If this is a $300 billion problem, why is it coming so slowly? The Bloomberg Year 2000 index is down 17% from its 10/9 high.
Some investors see more declines through the end of the year, others will be spooked by lack of news,big contracts aren't likely to be announced before companies approve budgets for 1998. The 4th qtr is going to be sloppy for a lot of these stocks.
In the next quarter or two, you're going to see revenues that are tremendous.Keane is going to bring in more year 2000 business this month than all of last year.
OK, so what is the point. The market sucks, nothing is working, no real big news from TPRO, lots of hope, boredom, no real sponsorship.
Have we all missed something major. I don't think so, but I will be listening intently to conference call tomorrow to keep my spirits up, while my portfolio is going down. It should.
Anyone post article from USA Today's business section on Y2K issue?? |
