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Technology Stocks : Mortgage.com, Inc- (Nasdaq: MDCM) -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (310)	9/8/1999 12:01:00 PM
From: Dolfan	Respond to of 516

Getting mentioned on movers list! Let's keep up the pace! Market Movers Sep 08, 1999 Midday Movers (9/8/99) The Bank of England raised its securities repurchase rate to 5.25% from 5%. That added to the nervousness ahead of this week's release of economic data, including Friday's Producer Price Index. The Dow Jones Industrial Average is down 20.17 to 11013.86 after being down almost 54 points earlier in the morning. The Nasdaq Composite has recouped some earlier losses, but remains down a fraction to 2836.50 with decliners leading advancers 1637 to 856. The S&P 500 is down 4.88 to 1345.57 with declines somewhat mitigated by Goldman Sachs analyst Abby Joseph Cohen's raising her S&P 500 operating earnings expectations from $49 to $51 for 1999, and from $53 to $55 for 2000. The yield on the 30-year bond is unchanged at 6.07% Red Hat (NASDAQ:RHAT - news) is surging again, up another $19 to $127, after its lead underwriter, Goldman Sachs initiated coverage this morning with a ‘market outperform.' Shares of the software company have been soaring over optimism that the open source Linux operating system, which it distributes for free, has a legitimate chance at dethroning Microsoft Corp.'s (NASDAQ:MSFT - news) Windows as the dominant operating system. Shares of Red Hat have risen sevenfold since its initial public offering last month. Microsoft is down $0.25 at $94. Sun Microsystems (NASDAQ:SUNW - news) rose $0.38 to $86.69 after announcing a computer network system that will compete with Microsoft's software. Sun's Sun Ray terminal is linked to a server computer -- an extension of it efforts to shift computing away from PCs. Yesterday, IBM (NYSE:IBM - news) announced a powerful server computer for Internet service providers that will compete with Sun. Today, IBM is up $0.63 to $132.63. Global Crossing (NASDAQ:GBLX - news) gained $3.31, or 16%, to $23.63 on news that it's expanding a worldwide undersea fiber optic network by selling 7% of its trans-Pacific cable to Microsoft and Japan's Softbank Corp. for $350 million in cash. In addition, Softbank and Microsoft will invest $200 million in Global's network during the next three years. The joint venture will provide telecommunications services to Asia. IMRglobal Corp. (NASDAQ:IMRS - news) fell $5, or 30%, to $11.44 after warning that third quarter earnings will fall below analyst estimates. It anticipates earnings per share of $0.12 to $0.16, compared to $0.18 per share in the year-ago period. The information technology consulting company blamed several reasons, including customers' dragging out their new orders. It expects revenue in the quarter to be between $62 million and $67 million. Lehman Brothers cut the company to 'outperform' from 'buy.' Mortgage.com Inc (NASDAQ:MDCM - news) gained $2.31 or 14.74% to $18 this morning after Stephen C. Franco, an analyst with U.S. Bancorp Piper Jaffray, initiated coverage of the provider of online mortgages with a “strong buy” rating and a price target of $28 per share.

To: Softechie who wrote (310)	9/8/1999 1:45:00 PM
From: Van Nguyen	Read Replies (2) \| Respond to of 516

Don't be so complacent. Technically, MDCM has reached 18 3/4 three times in the last 5 days, but couldn't break, despite the ending period and 2 upgrade so far. Unless it closed above this resistance, otherwise it will be very bearish (triple tops) and can drop back to 12 within a few days. Besides, the volume is diminishing and now MDCM is near its low of the day (may be gap filling before shotting up, may be trend reversal)