Regarding Internet Tulipmania:
1. Most of the trades in the net stocks are several hundred shares, that means small investors, and I think that means they will NOT run as a herd as everyone here suggests. Yes, there will be big intraday swings (eg, ubid, or pick your net stock. But the individual investor is a whole different creature than the institutional investor buying 10-100k share blocks. If THOSE GUYS start running for the exits in huge numbers, that will move markets much more quickly.
2. 8.7 billion into Mutual funds in the week ending Dec 25, compared with an average of 3.4 billion. That cash has to go somewhere, and, part of it will go into large, well capitalized, established hi tech companies, ie INTC, CSCO, MSFT, DELL, WCOM... that bounce may only last for a few weeks, but it is coming, and I think it will be substantial... DOW 9700, NASDAQ 2350... ?
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