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Technology Stocks : The New Qualcomm - a S&P500 company -- Ignore unavailable to you. Want to Upgrade?

To: gdichaz who wrote (4859)	1/5/2000 8:49:00 PM
From: JGoren	Respond to of 13582

Qcom buyers more than sellers: aolpf.marketwatch.com This is an aol url so I am not sure it will work. Who's behind the tech sell-off? By Emily Church, CBS MarketWatch Last Update: 4:35 PM ET Jan 5, 2000 Market Snapshot NEW YORK (CBS.MW) -- Who was behind the sell-off in technology stocks this week? Not individual investors, argues Ameritrade. Today on CBS MarketWatch Investors pick up blue chips Jobs is 'interim' CEO no more Macworld descends on San Francisco Gateway issues fourth-quarter warning Goldman Sachs, Morgan Stanley shares sunk by cuts More top stories... CBS MarketWatch Columns Updated: 01/05/2000 5:15:02 PM ET The online brokerage has started tracking the way its customers are investing and posting the daily action on the Web. The freshest data, at ameritradeindex.com, shows that a big majority of customers, 76.5 percent, were buyers on Tuesday, the day Nasdaq fell 5.6 percent. More Ameritrade customers were buyers on Tuesday than on Monday when 69 percent were buyers. And they're high-flying tech stock enthusiasts. The number one stock among the buyers was Qualcomm (qcom), followed by America Online (aol), Yahoo (yhoo) and JDS Uniphase (jdsu). (The top three stocks also happened to lead sell orders at Ameritrade, but by a much smaller percentage. Qualcomm buyers outnumbered sellers six to one.) Order volume, moreover, didn't diminish markedly this week as weakness in the tech stocks began to surface. Ameritrade (amtd) doesn't release daily volume numbers, but Tom Lewis, co-chief executive, confirmed on Wednesday that the online broker has been "breaking volume records over the last several weeks." Nasdaq volume on Wednesday hit 1.73 billion shares, the second-largest ever after the all-time record of 1.77 billion on Dec. 9. The brokerage isn't tracking day traders who close out their positions at the end of the day in its index, said Doug Shumann, an economist at Ameritrade. Small focus Ameritrade is hoping its index will be a better guide to what small investors are doing in the markets. As it stands, the Ameritrade findings run counter to the typical pattern that researcher TrimTabs sees during a sell-off, said Carl Wittnebert, director of research. TrimTabs, which tracks money flows, won't have final figures on this week's action until Thursday afternoon. Yet usually "money will chase the market the next day," he said. TrimTabs expects a majority of the assets they track are retail. One index, of course, can't tell the whole picture on who is behind the technology stock sell-off. Strategists have pointed to a range of culprits, including small investors selling big tech gainers for tax reasons. "I think there's some merit" to the idea that institutions are leading this market, for a change, said Ned Collins, head of the trading at Daiwa Securities. "There has probably been a 'flight-to-safety' by a little bit of both." Fund manager Mark Dawson at Rainier Investment Management says he hasn't noted any bearishness emerging in small investors: "My impression is that the general public remains resolutely bullish. "My spot check with two dozen people is in synch with what Ameritrade's saying," he said. "All of these people are hooked on tech stocks. They think that's where the action is and where it's going to remain." Institutions, meanwhile, are likely acting more quickly to rebalance their portfolios to reflect concerns about the relationship between the level of bonds and the elevated level of stocks, he said. Profit taking was likely a big motive for both investor groups. "Both retail and institutions were very anxious to have certain stocks in portfolio (in December)," Collins said. "Some of these guys who bought in December can afford to sell a whole lot of Qualcomm and still have a huge profit." Emily Church is the New York bureau chief for CBS MarketWatch.

To: gdichaz who wrote (4859)	1/5/2000 9:22:00 PM
From: LBstocks	Read Replies (2) \| Respond to of 13582

Kyocera ,Goldman Sachs mull venture fund TOKYO, Jan 6 (Reuters) - Kyocera Corp said on Thursday that it and Goldman Sachs (NYSE:GS - news) are considering forming a venture fund. Details will be announced at 4:00 p.m. on Friday, a Kyocera spokesman said. Japan's leading financial daily, the Nihon Keizai Shimbun, reported in its Thursday morning edition that Kyocera, a Kyoto-based manufacturer of high-tech products, and Goldman Sachs, the U.S. investment bank, plan to establish a private equity fund to invest in small, unlisted companies in Japan. The daily said the two firms will set up a joint company in Tokyo in January to manage the fund. By 0028 GMT, Kyocera's shares were down 2,000 yen or 8.89 percent at 20,500 yen.