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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Robert Lumb who wrote (12556)	8/5/1999 12:39:00 AM
From: pat mudge	Respond to of 18016

Robert -- I don't follow NT, so am no help at all. As for the recent drubbing in the techs, it's like the school teacher who punishes the entire class for the misdeeds of one or two. T'aint fair. In the market, justice comes later --- when the dust settles and we can scoop up some bargains. Changing topics completely, the following is from BT's website. And I'm wondering if the streaming media involves NN's 350 product line. <<< BT to launch interactive content service over ADSL 29 Jul 1999 Revolutionary entertainment service to accompany ADSL network BT?s Internet & Multimedia Services division (IMS) is to launch a revolutionary high-speed interactive content service for consumers over ADSL, synchronised with the company?s roll out of ADSL announced today. The broadband portal service - available from March next year - will be the first of its kind in the UK, combining high speed Internet access, enhanced Internet applications and a compelling range of content services. John Swingewood, director, BT IMS, said: ?This new service will transform the use of the Internet in the UK and provide a dynamic addition to the choice of information, commerce and entertainment services available to consumers. Users will have access to completely new genres of compelling programme material.? The new content service is based on BT IMS? current trial of BT Interactive running in north and west London and findings from the company?s video-on-demand trials in East Anglia in 1994. Through the current BT Interactive trial, more than 800 customers have access to high-speed Internet and a range of video and audio services via ADSL technology. In addition to very fast access speeds, ADSL enables users to be 'online all the time' as it enables a single telephone line to be used for both voice and data calls simultaneously, without any loss in data speed. BT also announced today that it will soon be streaming Sky News to PCs on the BT Interactive trial. This demonstrates BT?s determination to build on the already significant content provided by leading media companies. Programming includes news, weather, travel and finance information together with high-quality on-demand video and audio-rich content ranging from entertainment - such as films and music - to education resources. Speaking about the BT Interactive service, John Swingewood said: ?The trial is allowing us to experiment with an exciting range of visual and audio enriched content and fast Internet services to determine consumer reaction to an ?online all the time? world. ?Customer feedback suggests that the trial service has changed the way in which the Internet is used and users are enjoying the combination of unmetered usage, a high speed service and an exciting range of content. This is endorsed by a virtually zero per cent churn rate.? Full details of BT Interactive are available on btinteractive.com - ends - Notes to editors: BT Internet & Multimedia Services is the UK?s largest provider of on-line services for consumer and business use. Its product portfolio includes: - BT Internet - providing a range of Internet services - btclick.com - free internet access service with no registration, fixed term contracts or monthly subscriptions - Talk21 - free email address service Joint venture initiatives include: - LineOne, a web-based service offering internet connection and online UK focused content. A joint venture between BT and United News & Media. - BiB, a joint venture between BT, BSkyB, Midland Bank and Matsushita - providing digital interactive television services. - Excite UK, a joint venture with US internet portal, Excite Inc >>>>>>

To: Robert Lumb who wrote (12556)	8/5/1999 6:40:00 AM
From: Glenn McDougall	Respond to of 18016

Wrong! Rear Echelon Revelations: The Bottom Fishing Begins By James J. Cramer One thing is certain, we won't get an end to this selling with these crazy higher openings. The pattern where we open higher and then fail is simply deadly. It has never produced a tradable bottom that I know of. We need to have the market open flat and then go right down, or, even better, start way down and then rally. The latter is the textbook bounce that I am waiting for. Everything else just seems to prolong the inevitable. We did some selling near the end of the day as well as some shorting, hoping that we would get that kind of cathartic selloff soon, but maybe that's almost too-wishful thinking. A slamdown opening, with everyone puking up every single last Net stock, would normally be how a turn could occur. That's why I focused on the true problem here: The newer trader's innate inability to take a loss and move on. Many of the people who have bought stocks in the last year are used to buying dips. That works only if the selling reaches a climax and everyone who wants to sell has sold. But with these Net stocks, people don't want to sell until they have to. That's why you get disorderly runs on stocks. I keep harping on margin selling because when I see stocks go down in the last half hour of trading, it reminds me so much of what I used to have to do to clients who didn't get the collateral in when I was a broker. I would have to sell with all my might because all I was trying to do was raise cash, any cash, to meet the repo man. I only had a couple of clients who borrowed money, but they all got crushed at one time or another, which led to the type of forced selling I saw in the last half hour today. After the close today one thing had changed. People who are not in the sector -- fund managers, e-mailers, fellow travelers -- have begun to talk about which Net stocks may be doing well that have fallen so much that they are actually cheap. Unfortunately, the ones I am looking at to buy are small cap. I will not use this forum to talk about them. Suffice it to say that stocks that are down 50% to 70% from their highs, that are through the offering prices, and that are not burning cash at a furious pace and have good money in the bank are all being considered by my fund to be excellent possibilities. But we have bought nothing yet. We have to do work. We have to call analysts. We have to see if we can get meetings with managements. We have to look at the products, get the word about whether the brands have reach and the companies are having a good quarter. Bottom fishing, true bottom fishing, requires the patience of the fluke fisherman when they aren't biting. It takes time. You have to get it right because the kinds of stocks we are talking about have no liquidity and can't be gotten out of if we make a mistake, without wrecking the prices with our own exit. Nevertheless, to not do this is plain stupid. When there is forced sloppy selling by margin clerks and brokers, that is opportunity to sink your teeth into the next great Yahoo! (YHOO:Nasdaq) or Amazon (AMZN:Nasdaq). Oops, make that Intel (INTC:Nasdaq). ***** James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at jjcletters@thestreet.com.