To: Richard Mazzarella who wrote (2505 ) 1/24/2000 3:40:00 PM From: long-gone Respond to of 8010
Special MarketCentral.net Report We will be writing a special market report in this section on a periodic basis to update you on the latest market developments and outlook. In the meantime, we will be completing the official MarketCentral newsletter and will inform you of our premier issue if you register on the MarketCentral Newsletter Home Page. You can also view The Eakle Report, Bob Bose's Weekly Updates, The IPO Report and Stock Site's Daily Market Newsletter through MarketCentral. Mail this to a friend Special MarketCentral.net Report For January 24, 2000 Schizophrenic Market! With the latest fall in the Dow Jones Industrial Average contrasted by the coincident rise in the NASDAQ stock index for the new millennium, stocks seem to be heading in all directions at once adding to the volatile and schizophrenic stock market action of late. Let?s not forget the big Dow Industrials rally early this month to new all time highs while the Tech-heavy NASDAQ fell a significant 10% from its December highs. Now we have the Dow Industrials falling 4% this week with the NASDAQ rising 4% to new all time highs. Adding to the confusion were our newest entrants to the Dow Industrials and the first two stocks ever to move into the Dow Industrials from the NASDAQ. Intel and Microsoft corrected recent moves to new all time highs putting pressure on the Dow Industrials along with most of the old name Dow stocks. Picking up the pace were the Biotech stocks with Enzo Biochem leading the pack, doubling to $120 a share just last week. Now acting like the latest Internet craze, Biotech is now reaching stratospheric levels just as we have seen some of our Internet favorites do. Sizzling last week were the latest great white hope, Fuel Cell manufacturers. With rising oil prices and expectations that Fuel Cells will finally have some significant use in cars and other appliances, investors have feverishly purchased such unknown names until recent times as Plug Power and Electric Fuel. Perverse was the reaction of the market to positive earnings performance vs. hype. While positive earnings were reported for Advanced Micro Devices, General Electric and IBM their stock prices didn?t respond with all ending the week virtually (cont)marketcentral.net