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

To: larry who wrote (27939)	8/5/1999 4:04:00 PM
From: Teflon	Respond to of 74651

OK, buddy. Teflon

To: larry who wrote (27939)	8/5/1999 4:19:00 PM
From: Teflon	Read Replies (2) \| Respond to of 74651

Sorry, larry, but I needed to add a couple of key elements to my opinion. 1) NASDAQ traded down 65 points from the open, then reversed course to close at the high for the day at +25. This was a 90 point swing and volume was ~ 1.2 B shares --- a heavy day of trading. 2) The A/D line improved steadily throughout the day in both the NYSE and NASDAQ and closed at their best levels for the session. 3) Most internet stocks were down 60%-70% from their highs at the low point of today's session, a significant correction indeed has swept through this sector. 4) Rate hike already factored into the Market, just ask CNBC <vbg>. 5) Y2K effects TBD. 6) MSFT not budging below 85 levels. Many think that this could be a capitulation, but regardless, most would agree that's it's probably foolish to go short with a session like this freshly completed. Just my opinions. Teflon