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Technology Stocks : Compaq
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To: Elwood P. Dowd who wrote (48839)2/18/1999 7:26:00 PM
From: rupert1  Read Replies (1) of 97611
 
El: I just watched Lou Dobbs interviewing Michael Holland of Holland Inc. and Joseph McAldelin of Morgan Stanley - both very senior analysts.

Holland said the correction is over. He said major techs have been tested. We will end the year on new highs. This volatility we are seeing is the norm - we have not had the norm for a number of years.

McAldelin said that we had begun a rebound which will be very strong and carry us to a peak in mid-Spring. The techs will be back very strong with the financials. He also tipped energy as the moon shot investment for people with a 5 year horizon. He thought that in mid-Spring there would be a falling off and the year would produce a net 10% gain but during the year we will pass 10,000 on the DOW. They were very relaxed and very confident that there is not nasty correction coming soon. There arguments were fundamental and in the context of the economy and fiscal poliocy. No reference to TA.

Earlier there was a snippet from Gabrielli saying that there is sector rotation.
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