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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (24902)	6/25/1999 6:04:00 AM
From: limtex	Read Replies (1) \| Respond to of 74651

tech2000 - I just posted this over on the QCOM thread:- Interest rate storeis all day long on CNBC. Long bond etc really spooked ...despite almost no inflation and none on the horizon. My guess is that if they do raise interest rates next week and it triggers a general round in Europe as well then thats it. The Fed will for sure have made themselves very happy and since Europe will go into a tailspin and any idea or flicker of recovery will be out the window ofr a very long time and that combined with the rate hikes will put paid to the nie year growth in the domestic US economy. Maybe thats what they want. Their problem seems to em to be that they really don' like it when the market gets too high and too many people have done too well. It just seems to get in their craw!!! Their spooking is quite well timed as well coming just in front of the next earnings season. And they can extend this spook period for another few quarters just as great earnings get announced in order to prevent the market from doing well. Great strategy. They must have been really upset to find thea the inflation figures were so benign last week and then to cap it all they had to endure the Naz going up over 4% on one day alone. They must have been horror struck to imaging what would have happened next week and the succeeding weeks as the great earnings announcements rolled in. S&P Futures down again this morning except this time it looks big time down. This is now how many days of continuous down. Shame its been good while it lasted. Best regards, L

To: t2 who wrote (24902)	6/25/1999 6:42:00 AM
From: limtex	Read Replies (1) \| Respond to of 74651

tech 2000 - Not a sniff of inflation not a tiny trace of it and yet the long bond was just over 6.2%, and presumably will be on its way to 7% by this evening. Is this the Fed who are just scared stiff of a stcok market fueled by a technology revolution that that just don't understand? What is the idea to scare everyone to death so that the market drops 3,000 points. It does upset me a little that people keep giving the Fed the credit for this fantastic period of growth but IMHO this is mainly due to the likes of MSFT, INTC, CSCO, the telecom companies, the biogen companies, the wireless companies and latetly the Internet. The Fed didn't invent these things and the Chairman has said that he doesn't really understand what is happening. This technological revolution gives of wealth in a way that the Chairman ought to understand it ie the old fashioed wway...they earned it. Putting up interest rates gives people the opportunity to make money the new way, to get real interest way over the rate of inflation for no risk.....ie by not earning it. Now thats the way to put an end to nine years of growth in a big hurry. Sorry to moan but I appreciate your views and I had thought after the CPI figures that we had gotten this interest rate increase absurdity out of the way. Best regards, L