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

To: Sir Francis Drake who wrote (26605)	7/18/1999 11:22:00 PM
From: t2	Read Replies (1) \| Respond to of 74651

Morgan, A question. If there are a lot of investors like us who think MSFT will be at record levels early next year, that would imply a very short correction. If there is a severe correction, there is no way MSFT will be hitting 140 by April. Severe corrections/crashes do scare a lot of people. Scared people will behave like the current breed of internet investors. The internet investors got burned April to June. Now when we get rebounds, they are followed by waves of selling--at least that is how i see it (i don't play the net). Severe corrections will create that kind of trading pattern. I just can't see MSFT lower than 80 in the scenario you have described and get back to 140. If the fund managers have similiar targets for MSFT or even lower, they would be buying in any selloff----i think. I do however expect to see big dips on internet stocks. Now the hedge funds will make them the targets---i think they already have. That is basically how i plan to play this market on the downside----combined with shorting the S and P index. Best of luck tomorrow. Another point about Friday's trading in MSFT. Notice that it held up the market all morning. Without it, the Nasdaq would have been well into negative territory. There could have been wave after wave of shorting of the S and P. If that selling pressure had not existed, would MSFT not have been at higher levels? Best of Luck tomorrow.