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Technology Stocks : EMC How high can it go?
EMC 29.050.0%Sep 15 5:00 PM EST
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To: Kevin Podsiadlik who wrote (6591)6/2/1999 12:16:00 PM
From: mauser96  Read Replies (1) of 17183
 
But for the last 2 months EMC has been falling faster than the NASDAQ. I can find no reason for this poor relative strength except the superior RS that preceded it. Money managers sell the big winners when they want to raise cash. Meanwhile Y2K is coming, most will want to cut back their holdings. However, since everybody knows about it, they will all try to beat each other to the punch, meaning the selling will take place sooner than most expect. Money flows into mutual funds have slowed,so it may be underway already. It doesn't matter what the real effect of Y2K is, all that counts is the perception of those events. The standard explanation of tech collapse is interest rate worries, but I think there's more to it than that. Considering the price of gold and commodities it's hard to see interest rates up too much from here.
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