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Technology Stocks : How high will Microsoft fly?
MSFT 486.98-1.4%Nov 19 3:59 PM EST
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To: Catcher who wrote (20645)4/18/1999 2:40:00 AM
From: Brian Malloy   of 74651
 
Just a few observations:

Everyone knows what MSFT will do this quarter. They told us ahead of time a month or so ago. Of course a penny or two may be added, they told us that as well. Thus, earnings are already factored into the stock price. So the likelihood of "anticipated earnings" causing a price spike is low.

Previous six weeks MSFT traded above the 10 Day moving average. The last four days we are under the 10 day and the slope of it is declining. Given the way the NAZ and S&P are acting and seasonal/monthly historical trends, it would not be surprising to see the markets give up another 4-6%.

1. Last week (now the week before last) starting about Wed/Thur the four horsemen of the NAZ stopped making new highs.
2. The triumvartate of the INET also stopped making new highs. Yet, the other Inets continued to rally - a classic blow off top was developing.
3. The smart money was holding back while the individuals were running to a different beat.
Message 8976004

Now we also learn over the weekend that Fidelity has been selling techs. This news alone in the past has been enough to drop the techs. We could be down Monday morning - could be a good buy point or maybe not.

Longer term like the last couple of days in April or the first few days in May MSFT should be showing strength but caution would be advised this comming week and most of the week after that.

IMHO
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