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Technology Stocks : Identix (IDNX)

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To: R. Jaynes who wrote (12764)	3/16/1999 9:11:00 PM
From: Ron Ohio	Read Replies (1) of 26039

IDX has been going down and probably will test it's October lows. As previously posted the Dow at 10,000 is grossly misleading. Marty Zweig whom I've watched for over 25 years had some sobering thoughts about the market in the Zweig Fund annual report. He made 6% for the year!! He is a value investor which means investing in low PE stocks and the not the high flying stocks currently in vogue. He points out that the top 50 S&P stocks are up about 37%. The lower 50 were down to -1%. Averaging all the S&P stocks with no regard to size, the S&P averages were only up about 7%. In Calif about 10 days ago, a stock analysis indicated that the largest 250 Cap stocks from all the exchanges accounted for practically all of the increase of the averages in the various exchanges. And that covers 10's of thousands of stocks. Last Thursday Merrill Lynch's chief guru on NBR stated that most stocks have been correcting over the past year in a rotational correction. He stated that the big caps will probably start correcting this spring and by summer a new market bottom will form. On the super negative side, on Friday's NBR, Bob Stack stated that the current overvaluations have not been seen for over 70 years. Now that is scary. As for IDX, you have to feel that they are working on many projects. We probably won't hear about them until after the IDT merger. Years ago Randy told George and myself that the pay in many of the Tech stocks is not outstanding. Options give employees the extra pay they need. If Randy unloaded a million shares I would get concerned. Last with bg's 4 points in his Mar 11th post, the next few months will be filled with biometrics. When Gates speaks people listen. Further, IDX is not going to "0". Ron

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