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To: sand wedge who wrote (8960)	6/14/1999 10:38:00 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 14427

LT is no bull. He feeds that line to anyone that will sucker in. He don't post any ;^( after those bullish posts. He's still stirring up the DELLheads.

To: sand wedge who wrote (8960)	6/14/1999 10:39:00 PM
From: getanewlife	Respond to of 14427

Briefing is now bearish on internut? A bullish sign!??? "For the past couple of weeks, I speculated that the tech sector would pull out of its funk and head higher in anticipation of strong second quarter earnings... Net stocks were to be led by Yahoo! (YHOO 119 1/4 -16), which over the past three quarters had posted an average gain in the month preceding its earnings numbers of 62%... In all likelihood Monday's session proved me wrong, as Net stocks collapsed. Spooked by the prospects of a Fed rate hike, eBay's (EBAY 136 -29 7/8) troubles, CMGI's (CMGI 75 7/16 -14 5/16) disappointing quarter, the unspectacular results of recent IPOs and technical deterioration among leadership companies like America Online (AOL 90 5/8 -8 7/8), DoubleClick (DCLK 70 3/4 -18 1/16), RealNetworks (RNWK 52 1/2 -10 3/8), Yahoo! (YHOO 119 1/4 -16), Priceline.com (PCLN 76 7/8 -18 13/16) and Amazon (AMZN 92 -13 13/16), investors both big and small appear to be giving up on the once red hot sector... The lack of actual earnings now haunting the industry, as traders can't point to valuations and say that now is a good time to get back in because group trades at discount to market, growth rates, etc... Technicals also problematic, at least for the short-term... After having held near key support levels for weeks, leadership issues finally broke down en masse... Consequently, near-term technical tone points to further erosion... Longer-term, most of the industry leaders remain well above their 200-day moving averages... But before these stocks would look l/t oversold, need to see a convergence of the stock price and the 50- and 200-day moving averages, and we're not there yet... In most cases, we're not even close... About the only good news to come out of Monday's session is that it should put the brakes on the Internet IPO market, helping to restore balance to the supply/demand equation. To those of you wondering whether or not Monday's collapse represents a selling climax, and hence, a good (re)entry point, I remind you that the CPI report looms large on Wednesday and Greenspan is set to address Congress on Thursday... So it's doubtful that the sector will stage a meaningful s/t recovery until Thursday, at the earliest... Over the past couple of weeks, I have been guilty of fighting the tape... Using past history (Net stocks had historically rallied into earnings season) as a guide, I downplayed the group's sloppy trading pattern and the change in the supply/demand equation and forecasted a "typical" earnings-related rally... Don't make the same mistake... Given yesterday's capitulation the best strategy is the cautious one - wait for the sector to send a clear message that a bottom is in place before jumping back in on hte long-side."