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

To: Teflon who wrote (28231)	8/16/1999 5:59:00 PM
From: t2	Respond to of 74651

Teflon, The discounting mechanism is lightening quick. We know that Aug to October are the bad months historically---so maybe those timers (like myself) pulled out in July and beat the rush. I am moving my timeframe up from looking for September bargains instead of my plan for October. At this point, the market could go in either direction in a big way. In the second half of July, i was pretty sure that it was going to correct. Now i am in a state of indecision. To me that means invest but don't go overboard---maintain a large cash position. I am still worried about Y2K fears among some investors. I recently saw a program on tv revealing doom and gloom prophecies just around the turn of the millenium. Of course these dealt with natural or supernatural disasters. However, there was one individual who stated that a financial disaster is possible simply because as the idea of pulling out of the market gains a little momentum, others less fearfull will also sell off and so on. I guess the light at the end of the tunnel is that the ones who sold first may be bargain hunting while the last sellers are desperately trying to unload their holdings. I realize this type of scenario is a little far fetched but a slight chance of it could spook some people into defensive positions. I still feel there are fund managers who will maintain large cash positions for the remainder of the year simply to deal with possible redemptions later on. Maybe some are in the process of raising cash right now. That is what could cause an early selloff. Endless possibilities!! My opinion is changing on a daily basis and that is why i decided to "stabilize" my long term holdings just a little bit.