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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: KevinThompson who wrote (17886)	1/4/2000 7:00:00 PM
From: Tradelite	Read Replies (1) \| Respond to of 57584

According to the portfolio managers I listen to on local business radio, they anticipated this downturn and have been taking profits all day on the high-flying stocks in their clients' portfolios....they waited until now because they wanted to postpone 1999 capital gains. These managers work in the Northern Virginia suburbs of DC, where many of the major tech companies are located....lots of big money to be managed around here.... (I keep wondering which one of them is managing Steve Case's money)....obviously these portfolio managers are heavy into tech stocks. One said she has been "taking profits all day" in CMGI, JDSU, AOL, QCOM. All remain bullish on these stocks, think there will be a bit more downside thru the rest of the week, and then an upturn. Too much money waiting to get in, they say. And it doesn't sound like these portfolio managers are any more enthusiastic about "value stocks" or second-tier tech stocks than they were before----They have to go with the leaders, or their clients will disapprove.