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To: The Ox who wrote (10533)	11/10/1999 3:16:00 PM
From: The Ox	Respond to of 14427

I should add that I don't like the fact that the long bond didn't take out 6.03%. While we may be seeing a technical bounce after the rally from 6.4, let me just say that I don't like the action/direction. I will feel much more comfortable on margin when/if rates find their way below 6. JMO, Michael

To: The Ox who wrote (10533)	11/11/1999 8:02:00 PM
From: SJS	Read Replies (1) \| Respond to of 14427

Mike, I picked this up from Briefing.com tonight. ________________ Let's see... Merrill raised its CY00 growth forecast for the semiconductor industry by 3% to 21.5%; two tech titans - Cisco (CSCO) and Dell (DELL) delivered very strong quarters despite anxieties going into their earnings reports... Another, Applied Materials (AMAT) will do so next week; analysts and money managers are buzzing about the bullish presentations made earlier this week at the AEA Tech Conference - especially in the B2B, wireless, fiber optic and Net backbone arenas; e-commerce companies are ramping up for a very strong holiday season; the Nasdaq has just set its 9th record high in the last 10 sessions; volume is brisk; rates are trending lower (within a range); and seasonals are favorable... Aside from these developments, no real reason to get excited about techs. Seriously, just as the tone had become very negative a few weeks back, we are now looking at an extremely optimistic marketplace... With the Fed now more likely to keep policy on hold next week than to tighten, there is no reason to bet against the sector over the short-term... Could the sector experience a two or three day correction some time soon? Sure, especially considering how fast and how far techs have rallied... But look for investors to use any such dip as a buying opportunity, as the sector's momentum and underlying fundamentals (particularly now that rates are back below 6.25%) are just too strong to ignore.