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

To: larry who wrote (27988)	8/6/1999 12:28:00 PM
From: johnd	Read Replies (2) \| Respond to of 74651

Larry, The market seem to be in denial. Dow still holding up 18% from year's start of 9189. Up 1600. There are people expecting 12,000 on the DOW or 30% up from last year in an environment where profits for the DOW stocks won't grow anywhere near 30% and in an environment where there is tightening Fed action and bias. I don't get it. But the DOW and NASDAQ charts are following last year's charts. If that continues to hold, the pending correction may come in sept. or October. I feel institutions are gradually selling while individuals still holding. AOL is a strong evidence where Megellen and other funds have been selling while all analysts have strong buy and 200 price target. Some people I met at a party bought a lot at 98 a few days ago and are agonizing. I think MSFT at 85 is a reasonable base for the short term and will trade +- few points. In the event of a sever market correction, MSFT could go to the high 70s. Might hit 100+ again from now till yearend. I also see correction again in Q4 associated with additional rate jitters and Y2K right infront of people. As per today, the real test is at end of the day. I want see if wall street will keep all money on the table going into next week or we will see a selloff (i.e -100 on DOW) towards close.

To: larry who wrote (27988)	8/6/1999 2:04:00 PM
From: fooledalot	Read Replies (1) \| Respond to of 74651

larry, OT*******OT******OT >>Still hold CSCO for the stupid earning rally toward 64-65 and then pick up a core holding at 55. FWIW.......you may consider that any such rally is likely taking place today. Recently, CSCO's pre-earnings sell-offs have started the day before (Monday) earnings. Of course, the last 2 qtrs. this has occurred at the end of a rising market where more profits available for the taking than has occurred this qtr., which has been in the midst of a decline. JMHO f