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To: Uncle Frank who wrote (7773)	3/16/2000 12:44:00 PM
From: Voltaire	Respond to of 35685

Hi Uncle, they do not want to now, look how their stocks have swelled. They can now make their money in the NAZ. Unbelievable, most obvious I have ever encountered. V

To: Uncle Frank who wrote (7773)	3/16/2000 12:56:00 PM
From: stockman_scott	Read Replies (1) \| Respond to of 35685

V, uf, unclewest, and others...FYI... <<Thursday March 16, 12:28 pm Eastern Time ANALYSIS-Tech stocks still fancied despite falls By Richard Baum and Brian Spoors LONDON, March 16 (Reuters) - Has the bubble burst? Probably not, said investors and analysts on Thursday, despite two days of steep losses for technology, media and telecoms (TMT) stocks. Tumbling prices for ``new economy' favourites and parallel gains for unfashionable sectors like metals, foods and tobacco have left many market watchers pondering if the tech stock party is finally over. But most said the slide was just a short-term ``correction' rather than a fundamental shift in investment flows and that TMT stocks would still reward more patient investors. ``There has been no news to suggest the growth outlook has changed and no news to suggest technology demand has changed,' said Adrian Darnley, senior investment officer for Europe at Gartmore Investment Management, which manages assets of $10 billion in Europe. ``If anything, the latest data from the U.S. has suggested surprising demand in the technology sector. This is not like when Asia blew up. There is no fundamental change in the world.' Nevertheless, the past week has seen signs that investors are getting nervous about the more extreme valuations in the Internet industry and finding it hard to resist shares in profitable companies trading at multi-year lows. Credit Lyonnais has said it is reducing exposure to European media stocks, mirroring moves made by others including Salomon Smith Barney and Lehman Brothers. FUND MANAGERS TO CUT EXPOSURE And a survey of 251 fund managers across the globe released by Merrill Lynch on Tuesday revealed most of them expected to cut their exposure to the TMT sector over the coming 12 months. That may already have started: investors have pulled some $1.7 billion of cash out of telecoms stocks in the last four weeks and $907 million out of technology, Deutsche Bank said on Thursday. That's a sizeable slice of the $4 billion and $1.9 billion respectively that flowed into the sectors in 1999. But analysts say the rotation of money into ``defensive' sectors like utilities and food does not mean technology stocks are out of favour. The pace-setting U.S. Nasdaq index is down 10.7 percent from its record highs, but the technology-rich benchmark has made similar retreats recently only to bounce back to new records. ``It's more of a correction than the complete end of the TMT story,' said Richard Kersley, chief European strategist at Credit Suisse First Boston. Credit Suisse has scaled back its aggressive bets on TMT in favour of more defensive stocks in the short term, but its long term recommendation is that investors should still overweight TMT in their portfolios. What is more, the fall in London has come on relatively low volumes and may have been exaggerated by the approaching end of the quarter and the tax year, analysts said. ``Most houses have had a very strong first quarter so certainly some position squaring ahead of that would not be unusual,' said Darnley at Gartmore. That could mean tech stocks will remain weak at least until the end of the month, though few analysts were willing to speculate how long the correction would last. ``The trends we've been seeing are long term movements to TMT stocks but that doesn't mean there won't be excesses either way,' said Jerry Evans, market strategist at Enskilda Securities. ``This is just a bit of profit taking -- people will selectively go back into TMT.'>>

To: Uncle Frank who wrote (7773)	3/16/2000 2:40:00 PM
From: she_x	Read Replies (1) \| Respond to of 35685

uncle frank and volty, seen this play out before many times. it's my belief that although temporarily uncomfortable to see a big price slide in the techs it usually comes out to our advantage. shake out some of the weak hands, bolster the dow enough to spread confidence in the market to masses, churning the accounts of the uninformed wakes 'em up from complacency. builds a strong foundation for the rally in techs that follows. removes some of the volatility. never sure of what you mean by time capsule, but it's my observation that there is a time warp, or whatever involved here as this is occurring at triple witch, eco #'s, window dressing and upcoming fed meeting, etc. so it extends the predicted moves out in a slow motion fashion, but the gains will be sped up with the techs regaining momentum very quickly once through this period. when you see a stock like caterpiller put on 10-15% gains you usually can be assured of a bottom in the tech sell off and see a pop in techs to follow. i agree with volts middle of next week guess, only because of the variables in play at this time. ordinarily it would follow much quicker. likely to have a few headfakes between now and then if even just intraday. for those squirming over this market manipulation, i would advise sitting tight and taking advantage of some awesome buying opportunities. don't be caught in the headlights folks, you'll be kicking yourselves in the ass later. JMHO, she