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

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To: waldo who wrote (4270)	1/4/1999 6:36:00 PM
From: waldo	Read Replies (1) of 37507

>>Analysts said the heavy volume was expected as money managers returned from the holiday season greeted by double-digit gains in stock indexes for 1998. These institutional investors are seen as having put lots of cash on the sidelines in December amid portfolio adjustments, and are ready to put that money to work in 1999. ''What's driving the market is that people are expecting a large flow of cash into mutual funds,'' said Bill Meehan, chief market strategist at Cantor Fitzgerald. ''I think we are just seeing a bit of profit taking.'' Indeed, analysts said the profit-taking that deflated the day's early rally may reflect some market uncertainty among investors. However, analysts said both the launch of the euro, the single European currency, and the continuing pace of merger activity should help set a buoyant tone for the market.<< biz.yahoo.com W

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