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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: QwikSand who wrote (20437)	9/29/1999 11:10:00 PM
From: Jean M. Gauthier	Read Replies (2) \| Respond to of 64865

Hi guys.. I am sick and tired of hearing this "lack of breath" issues & advance / decline line... The market is NOT a democracy... Different sectors go up and others go down at the same time these wall street idiots with thier advance / decline... Stocks on a roll (and companies too) should go up Companies having problems, Coke, Gillette should go down. Simple... Why do they spout their financial babble.. Take care Jean

To: QwikSand who wrote (20437)	9/30/1999 11:53:00 AM
From: Alok Sinha	Read Replies (2) \| Respond to of 64865

I don't expect the current trend to hold either. TIt appears that the market just needs one slight nudge to go in a tailspin. My take on the narrow breadth with continued strength (and bargain hunting) in a handful of issues is that most investors missed the last leg of the run-up in chip stocks as they have been too concerned with rates. It is very rare for high growth stocks to rally after two rate hikes, let alone three. The S&P (for large caps)and Russell (for small stocks) tell the real story of how equity investors / mutual funds have done. NAS would be down about 20% for the year if you exclude the performance of the 50 best performers. The under-performers look at the SUNs and CSCOs and try to buy on dips (providing support in a falling market); those who have made short term money (institutional and retail investors) are being cautious and sell sooner rather than later in the face of deteriorating rate/dollar environment. Add to this tug of war the renewed speculation in Net stocks and IPO market, and very soon nobody knows where stocks are headed. (It is hilarious but the way money is flowing into all tiers of the Net sector, it is almost as if some folks think it is a safe haven given the Christmas season is approaching). I think odds are greater than 50% that we will break out on the downside, until the long bond stabilizes below 6% and dollar gets back above 110 yen. Financials were a leading indicator to the downturn in the overall market last fall by 2-3 months. Most large cap banks and brokerage stocks are down 30% from their highs (and broader market performance has tanked). It will be interesting to see if the last bastion of strength (the large cap techs) will be able to hold out till the macro fundamentals / investment climate (not the economy) improves. Regards Alok Regards Alok