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Non-Tech : E*Trade (NYSE:ET)

ET 16.49

-0.3%

Dec 31 3:59 PM EST

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To: swiss who wrote (4488)	1/26/1999 7:50:00 PM
From: Warren Gates	Read Replies (1) of 13953

To understand Internet stocks, I refer to my biology 101, the basic food chain. AOL being the bellweather is at the top, and is about to report tomorrow after the close. If we get a strong support, expect a feeding frenzy beginning with the next level (EGRP, AMZN, YHOO, etc). After this would be rest of the internuts. Today's action suggest a cautious move by the market. Whenever money flows to Microsoft, Intel and the rest of the big boys of Nasdaq, it means there's still a lot of buying but on a more cautious level. We're probably beginning the next leg of the tech bull market, where the top of the food chain lead the charge.

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