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Microcap & Penny Stocks : Bid.com International (BIDS)

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To: F. Evans who wrote (3847)	12/23/1998 9:44:00 PM
From: waldo	Read Replies (3) of 37507

>>Overall, traders said tax-related selling has dried up, leaving more buyers in the market. Year-end portfolio tweaking sent fund managers into 1998's best performers, notably techs.<< >>Small and mid-sized Internet stocks continued a meteoric rise, leaving some analysts with worried minds.<< >>At least two analysts said some of the gains came as ''young Turks'' or money managers who had never seen a serious market correction jumped into such stocks. ''It's the end of the year and if you haven't performed that well, you take a shot. What have you got to lose?'' said Dick Stein, chief technical analyst at Noble Investments. Some traders talked about a ''Santa Claus'' rally in stocks but technically, the Santa rally has not even started. According to Yale Hirsch at the Hirsch Organization, which tracks historical market data, the Santa rally takes place during the last five sessions of the year and the first two sessions of the new year. Thus, the Santa rally, historically good for a 1.5 percent rise, won't even start until Thursday.<< biz.yahoo.com W

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