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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (68179)	9/24/1999 11:04:00 AM
From: Thomas M.	Read Replies (1) \| Respond to of 132070

#reply-11350982 "I have no idea how any analyst with any authority can make such an assertion," says a Cisco spokesman. To me, this is a perfect example of the current environment on Wall Street. How dare an analyst think for himself! <g> Tom

To: Knighty Tin who wrote (68179)	9/24/1999 12:51:00 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Mike, >>The lobotomy crowd is trying to rally the market as we speak<< My guess is that they will be successful with the "blue chips", but unsuccessful with the broader market. The perception of a good Friday comeback is important for the bulls going into the weekend, even if the broader market is getting buried. Besides CNBS needs something to cheer about, even if it isn't truth.(g) Wayne

To: Knighty Tin who wrote (68179)	9/24/1999 3:44:00 PM
From: Les H	Respond to of 132070

Internets are moving, thanks to the new Internet 20 trust started by Merrill Lynch, symbol HHH, and also continuing to the mirror the biotech bubble ... decisionpoint.com The next two peaks oddly seem to coincide with the Yahoo earnings report at start of October and the AOL/AMZN/EBAY reports near the end of October.

To: Knighty Tin who wrote (68179)	9/24/1999 3:45:00 PM
From: Les H	Read Replies (3) \| Respond to of 132070

Loose lips sink ships, scorched investors find By Chris Stetkiewicz LOS ANGELES, Sept 23 (Reuters) - Stock market investors on Thursday learned an old lesson the hard way -- what goes up can come down with the slip of a lip. You can spend hours poring over company financial statements, listening to market gurus, or even praying. But none will protect you from a powerful man with an open mouth and a market that is all ears. Microsoft Corp.(Nasdaq:MSFT - news) President Steve Ballmer, himself worth more than $20 billion thanks largely to Microsoft stock and options, took a big chunk out of his own bottom line by saying technology stocks, including Microsoft's, are absurdly overvalued. The market shuddered, with the tech-heavy Nasdaq composite index ending the session down 108.33 points, or 3.79 percent, at 2749.83. Microsoft shares fell $4.88, about five percent, to $91.19, trimming hundreds of millions of dollars from Ballmer's own portfolio. It was not the first time that a comment from a major financial figure sent markets reeling. The most famous recent example was in December 1996 when Federal Reserve Chairman Alan Greenspan's warned of ``irrational exuberance' in the market sending all sorts of markets all over the world on brief downward spirals. Some say Thursday's slide was long overdue, noting market watchers, including Ballmer, have been lamenting high stock prices for years, blaming Internet hysteria for inflating valuations beyond all reasonable expectations. But until recently those voices have been drowned out by armies of investors reaping big stock payouts and laughing all the way to the bank. Some now predict that the tide may finally be about to turn. ``Given that traditional guideposts in this kind of market are difficult to understand, people are watching each other more than they normally would,' said Ezra Zuckerman, assistant professor of strategic management at Stanford University Business School. ``It's more of a social dynamic which can be very volatile. I think investors should be very cautious,' he added. Greenspan continues to voice bewilderment at the powerful stock market rally, which had nearly doubled the Dow even after Greenspan made his famous 1996 warning. Another famous market mover of years past, Joseph Granville, who publishes the Granville Letter and is regarded a world-class pessimist, sees the Dow sinking to 6,000 in the next six to 10 months, Granville told Reuters in an interview on Thursday. Granville once sent the Dow down 2.4 percent in January 1981 with a midnight telegram to clients proclaiming ``Sell everything.' He later lost much of his cachet by failing to predict the massive 1987 stock market crash. ``I've been calling for a total crash since September. 'we know we're going into the eye of the storm," Granville said.