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

To: BayTay who wrote (1257)	11/16/1999 7:23:00 AM
From: lazarre	Read Replies (1) \| Respond to of 1412

This morning we learn that SONY has adopted the Palm platform for delivering wireless access through its future net appliance products. Certainly not a KO for the windows platform--which is what I understand SPYG is tied into. But with all the anticipation at COMDEX for a SPYG announcement of some sort, I am wondering if there might be a negative bias ( I got the Fed on my mind ) short term. L

To: BayTay who wrote (1257)	11/16/1999 10:19:00 AM
From: Lane Hall-Witt	Respond to of 1412

TA has the funny characteristic of being both a study of crowd behavior and also a force that moves crowds. The technical crowd sees a chart movement and then responds, moving en masse into stocks or out of them. This is why charts can serve as self-fulfilling prophecies. This behavior probably won't end until enough followers have been left holding the bag to dissuade them from chasing the herd next time around. But, until that time, it certainly seems like "momentum begets momentum" is the iron law of this market. This, by the way, is totally irrational from a value investor's perspective: Warren Buffett buys stocks on downticks, not upticks.