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Technology Stocks : How high will Microsoft fly?
MSFT 492.01+1.3%Nov 28 9:30 AM EST

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To: Frank Ellis Morris who wrote (9883)8/1/1998 7:51:00 AM
From: John F. Dowd  Read Replies (3) of 74651
 
I am amazed at the volatility! Who are these folks that are running in and out at this volume level. The Alan Greenspann thing is puzzling too as I see no secular inflation. Look at commodity prices especially the bellweather of oil. Interest rates are lower and lower in the real market as corporations become net investors rather than borrowers. GM settles pretty quickly because they can take the demands of the UAW in stride and still be competitive. Automation causes the downsizing of one industry after another and so and so forth yet Alan is worrying about inflation. Frankly I don't get it. Nor do I understand what effect Clinton has had or will have on the economy in his presence or absence. On top of that we seem to be trying to dismantle our global industrial warriors like INTC and MSFT while allowing the Mercedes of the world to take over a huge part of our auto industry. Mercedes tried to make an SUV and decided wisely to buy the Jeep along with the rest of Chrysler. The market is inscrutable and where is Alan when the irrationality is to the downside. In all fairness one has to applaud his defense of MSFT on the basis of globalization. I hope we are right in the next 5-10 years and that all the gains of the past 10 are not thrown out in a fortnight.

JFD
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