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To: T L Comiskey who wrote (51088)	11/19/1999 2:56:00 PM
From: T L Comiskey	Read Replies (1) \| Respond to of 152472

Friday November 19 2:44 PM ET Stocks Mixed; Nasdaq Racks Up New Highs By Amy Collins NEW YORK (Reuters) - U.S. stocks shored up losses in mid-afternoon trading on Friday as the Nasdaq composite racked up a new intra-day high on continued enthusiasm for technology shares. ``There's continued life in the technology area,' said A.C. Moore, the chief investment strategist at Dunvegan Associates in Santa Barbara, Calif. ``That's the heart of the economic momentum. We're seeing considerable extension and interest in many of them.' The Dow Jones industrial average (^DJI - news) was down 20 points, or 0.19 percent, at 11,014, a day after it closed above 11,000 for the first time since mid-September. Heavy machinery maker Caterpillar Inc. (NYSE:CAT - news), one of the 30 stocks in the Dow, said it expects a fourth-quarter earnings shortfall. The company's stock, which slumped 6-3/16 to 49-3/4, was responsible for all the decline in the blue-chip index. A strong gain by International Business Machines Corp. (NYSE:IBM - news) pulled the Dow in the other direction. IBM was up 6-3/8 at 104-1/8. ``It was just beat up so much,' Ned Collins, head of trading at Daiwa Securities America said of IBM. ``It just looks like with so much money coming into the market, people were just looking for something new.' The Nasdaq composite index (^IXIC - news) rose 20 points, or 0.60 percent, to 3,367 after finishing on Thursday at its 12th record close in 15 consecutive sessions. ``Nasdaq strength is here to stay, at least for the short term,' said Alan Ackerman, the senior vice president and market strategist at Fahnestock & Co. Among the Nasdaq stocks moving up were Microsoft Corp. (NasdaqNM:MSFT - news), up 1/4 at 85-3/16 and Oracle Corp. (NasdaqNM:ORCL - news), which was up 2-5/8 at 76-13/16. The broader yardstick of the Standard & Poor's 500 index (^SPX - news) was down 1 point, or 0.11 percent, at 1,423 after setting an all-time high of 1,424 on Thursday. Friday is a ``double-witching' day of options expirations. The stock market will be closed next Thursday for Thanksgiving Day. The following day Friday, Nov. 26, the market will close at 1 p.m. Declining stocks led advances 1,819 to 1,091 with 606 million shares traded on the New York Stock Exchange. There were 56 stocks at new highs and 137 at new lows. The U.S. Treasury 30-year bond was down 4/32 to yield 6.18 percent. ``The overall market is certainly extended at this point and will probably start to look over its should to the bond market, which hasn't been doing so well since the (interest) rate hike,' Moore said. ``And the rate hike does make stocks more expensive. So we're probably going to see a divergence between the broader market and some of the tech issues.'