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To: yzfool who wrote (51094)	11/19/1999 3:28:00 PM
From: T L Comiskey	Respond to of 152472

<Q,,recently discovered internet sector>....Say What...? Friday November 19, 3:16 pm Eastern Time Web stocks pause as gains turn to profit-taking By Ilaina Jonas NEW YORK, Nov 19 (Reuters) - Internet stocks presented a mixed picture on Friday, with many of the recent high-flyers trading lower and broader indices cooling slightly following three weeks that saw the overall sector rise 40 percent. PaineWebber analyst Jim Preissler, who follows Internet commerce and media companies, said Friday's decline may be the first of many, as institutional investors, who invested heavily in those areas in late summer, start reaping profits. ``As we get closer to the year's end, we might get an increase focus on taking profits,' Preissler said. ``I expect that to really happen after Thanksgiving,' he said. ``I see half up and half down,' said Salomon Smith Barney Internet analyst Lanny Baker. The American Stock Exchange Internet Index (^IIX - news) was up 0.20 percent to 442 in early afternoon trading after falling as low as 438. The index remains up some 42 percent since Oct. 27. The Dow Jones Internet Index (^DJINET - news) was off 0.67 percent, but remained up 40 percent since late October levels. Shares of GoTo.com Inc. (NasdaqNM:GOTO - news) and SportsLine USA Inc. (NasdaqNM:SPLN - news) -- one a recipient of an unfavorable court decision, the other a beneficiary of a big basketball bounce -- were just two examples of the mixed-bag Friday for Internet stocks. The stock of Internet search company GoTo.com fell 5-5/8 to 107-1/2, after a U.S. appeals court lifted a preliminary injunction that had blocked Walt Disney Co.'s (NYSE:DIS - news) Go Network from using an online logo resembling GoTo's own. On the flip side, shares of CBS-affiliated SportsLine USA Inc. (NasdaqNM:SPLN - news) climbed 6 to 45-3/4 after CBS Corp. (NYSE:CBS - news), nailed a $6 billion 11-year contract to broadcast the U.S. national college basketball championship tournament. Web heavyweights mostly traded lower, with retailer Amazon.com Inc. (NasdaqNM:AMZN - news) down 1-3/8 to 76-9/16, Internet media company America Online Inc. (NYSE:AOL - news) off 1/4 to 159-1/4 and online auctioneer eBay Inc. (NasdaqNM:EBAY - news) off 4-1/2 to 147-3/4. The recently discovered wireless Internet sector again defied the down-trend. Qualcomm Inc. (NasdaqNM:QCOM - news) rose 4-3/4 to 360-9/16, up from just 25 in January, while lesser known Aether Systems Inc. (NasdaqNM:AETH - news), rose 9-1/4 to 87. Other movers Friday included China.com (NasdaqNM:CHINA - news), the Pan-Asian Internet media network and Web site designer, which gained after a two-for-one stock split but in spite of the departure of its CFO, who left to join Softbank Corp. . The stock, which has rocketed since a breakthrough in China trade relations, climbed 22-1/2 to 115-7/8. The stock was among the top net gainers on the Nasdaq and among the 20 most heavily traded. CacheFlow Inc. (NasdaqNM:CFLO - news), which provides technology that helps boost Web site performance, became the latest initial public offering to rocket on its first day of trading, gaining more than 400 percent to 122 after trading as high as 139-1/4.