America On-Line (AOL) Message Board

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Technology Stocks : America On-Line (AOL)

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To: HECTOR RUBERT who wrote (19745)	6/3/1999 1:16:00 AM
From: c.r. earle	Read Replies (3) of 41369

Hector, Just to add a few points to your post with which I agreed. We have been experiencing for the last several weeks a correction in the internet and tech sectors, this was to be expected and was called for by a number of analysts. Along with the announced sector rotation it has added to the sell-off in tech and internet stocks. Recently the concerns regarding an interest hike has added fuel to this tech and internet fire. Historically an announced "bias towards tightening" by the Feds has not led to an actuall increase. I believe that since 1997, there have been 14 announcements and only 1 increase. I would add that I do not believe that the Fed will increase rates when they meet at the end of the month. When the employment numbers are released this Friday, and they are attractive for holding rates, I would predict a sharp rally on both the Dow and Nasdaq. Many of the stronger companies are in a favourable buying range right now. I have started to accumulate some of the more prominent names, and will continue to do so if the sell-off continues. It is usefull to keep in mind that markets always over react to good news and over react to bad news. Judge yourself accordingly. Regards

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