Some positive comments about the market from wsj, excerpt :
Dow Jones Newswires -- December 29, 1997
" Tech Sector Up On Bargain Hunting, Relief On Asian Mkt Woes "
By Maria V. Georgianis
NEW YORK (Dow Jones)--After a month of price discounting, technology
stocks are bouncing up Monday as investors search for post-Christmas day
bargains, market analysts said.
In addition, investors are breathing a sigh of relief that South Korea is not
teetering on the verge of bankruptcy, said Michael Metz, director of
research at CIBC Oppenheimer Corp.
South Korea's parliament Monday passed a financial-reform package and
major U.S. lenders are ironing out details concerning the easing of terms of
the country's bank loans.
After a month of battering in the tech sector, the market has factored in fairly
negative earnings expectations and "there's not much more on the downside
to go," said Bruce Lupatkin, director of research at Hambrecht & Quist Inc.
Finally, the downward pressure generated by end-of-year tax-relief selling is
pretty much over and leading to a bounce on light volume, Metz said. |
