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

To: johnd who wrote (28901)	8/30/1999 4:27:00 PM
From: t2	Read Replies (2) \| Respond to of 74651

Johnd, The only reason i feel we won't get a big correction is that most people have now realized that if you buy in October or September, you would be rewarded with good gains going into January/February. For that reason, a lot of funds may have built up a sizable cash position (or have been in the process of doing so). Maybe this will prevent a correction altogether. My gut feeling says that there is a lot of money on the sidelines(just like Maria reported this morning on CNBC). I think demand is there but supply will dry up from the lack of sellers. The short sellers can take this down only so far. I think we will bounce up starting this week. The earnings run up to October should be great. There is no real financial crisis in the world right now---which is the norm at this time of year. Therefore, there is nothing stopping a run up. High PE stocks should not have been able to move like they have recently, if this market was on the way down. We might see the biggest rallies in a long time for the rest of the year.