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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Elwood P. Dowd who wrote (69015)	10/17/1999 11:37:00 AM
From: Captain Jack	Read Replies (1) \| Respond to of 97611

El -- I see his point but there would have to be a name change to generate any interest,,, LOL!!

To: Elwood P. Dowd who wrote (69015)	10/17/1999 11:41:00 AM
From: Captain Jack	Read Replies (2) \| Respond to of 97611

From the BULL MARKET (Saturday)a commentary indicating world mkt manipulation by Uncle Al.. probably the only single person with the ability... COMMENTARY Yesterday's sell-off didn't have to happen. Sure, the inflation numbers weren't pretty, with the wholesale price increase reaching 1.1% for the month, but the culprit was Greenspan. This is about the fourth time he has done this in the past three years. He has caused the world's investors to lose billions and billions of dollars, and yesterday was no exception. He spoke Thursday night after the close and the world markets from Japan to Hong Kong to France, England and Germany collapsed on Friday. By the time we woke up on Friday, the Dow was opening down 200 points. Then he makes ANOTHER speech in the afternoon and the US markets just collapsed. Here's a quote from the wires: "The mighty words of Federal Reserve Chairman Alan Greenspan sent a shiver through global equity markets in overnight trading. Speaking at a conference of bank regulators, Greenspan conjured up memories of his "Irrational Exuberance" speech of 1996 [when the Dow was around 6,000 - Ed.] with comments stressing that investors need to remain cognizant of the level of risk associated with investing in the equity markets. The cautious tone of his observations underlie the Fed Chairman's continued unease with the market's historically high valuation levels." OK. So where do we stand? Actually interest rates declined a bit yesterday despite the bad inflation numbers. Why? Because when equity markets fall sharply around the world there is a "flight to quality" whereby investors dump stocks and buy US Treasury Bonds. They are safe and liquid whereas stocks can be volatile and dangerous, as you know. So we had a made rush of buyers meeting the sellers and effectively bonds went up a bit. Hurrah for small favors. The Dow lost a record 630 points for the week, and this after the Nasdaq set a record high on Monday! Prices were up 1.1% in September, the highest jump in 9 years. So there are some concerns here. And the financial stocks were hit the hardest with stocks like American Express (AXP), Capital One (COF), Citigroup (C), Merrill Lynch (MER) and others getting killed. The major markets were all off about 6% for the week. The Russell 2000 was stronger, finishing down 3 percent. The Goldman Sachs Tech Index (GSTI) was nailed for almost 13% though. So if your stocks were down less than 5% last week, you were doing OK, compared to the rest of the market. The Dow is still up 9% for the year and the Nasdaq, 25%, but the S&P 500 is almost flat now.