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Technology Stocks : VeriSign (VRSN)

VRSN 251.47

+1.2%

Nov 21 9:30 AM EST

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To: david barr who wrote (462)	4/18/1999 11:56:00 AM
From: fred woodall	Read Replies (1) of 1285

1)Fidelity/Magellan reduced holdings in tech sector. (They weren't the only ones) 2)I count 2460 FORM 144 filings (to sell) in the high flying sectors of the NASDAQ in the last 4 weeks. Compared to the percentage of filings to buy I have to ask myself what would it take to attract those insiders who are dumping to jump back into the market. A correction maybe? 3)NDX daily chart is some 400 points above the 200 Day MA. Short-term indicators such as the 10-20 day Moving averages strongly suggest a short position. This is speculative however I'm convinced. 4)Questions about 2nd and 3rd Q profit growth. SUWN is a good example. Also CPQ. Whether it's internal or a seasonal thing remains to be seen. 5) Nikkei and maybe the Euro. I can't help but think the next down swing will be a great buy opportunity therefore attracting overseas money away from the U.S market. 6)EK jumping 7 pts. On Friday. From what I have found backtrading most tops in a market are indicated by stocks going up 10-30% while lacking any fundamental reasoning. (has the price of silver declined?) This observation does not apply to the net sector. 7)Cohen's speech on Wed. Throwing up her hands and giving the green light had me wondering who signs her pay check. Funny how these analyst conferences always coincide with trendlines on indices. 8) Interest rates. Let's see oil prices going up. Paper stocks on the move. Overseas markets coming out of recession. South America economy improving. If these things are true who thinks rates will go unchanged? 9) How many times on CNBC and CNNFN have you heard a analyst being interviewed answers the “where's the market heading?” question with “I think we'll see 11k buy the end of the year” When the same question was asked in Jan. it was “10k by the end of the year” Funny how these Stock market news programs who have 90% advertisements from brokerage houses can't find anyone willing to call a bottom. Just a few observations. I could be wrong. What the hell do I know anyway. Good luck Fred

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