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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: JDN who wrote (29288)	3/22/2000 12:42:00 PM
From: JDN	Read Replies (1) \| Respond to of 64865

To all: I wish you all would read the below and tell me if you agree it makes any sense at all. This person is selling CSCO, EMC, and SUNW to buy brokerage firms. His reasoning is AG is going to slow down the economy. Seems to me if economy slows down the stocks he's selling are the ones to have and the stocks he's buying are the ones to sell. Am I nuts? JDN TWISTER, dont answer that!! (gg) Federated's Madden on FOMC Decision: US Stock Market Comment New York, March 21 (Bloomberg) -- A comment on expected activity in the U.S. stock market on the decision by the Federal Reserve's Open Market Committee to raise the overnight bank lending rate by a quarter point to 6 percent: ``I think that this was in the market and investors aren't surprised,' said Thomas Madden, chief investment officer for stocks at Federated Investors Inc., which oversees $115 billion in Pittsburgh. ``Everyone was anticipating a 25 basis-point hike because Greenspan has pursued this one-click-of-the-dial, incrementalist approach' to raising interest rates a quarter point at a time. Still, Madden said, he expects some Nasdaq shares to decline. ``Nasdaq's undergoing a correction and investors are returning to classic blue chip, highly liquid stocks,' he said. ``They're troubled by the high prices of these Nasdaq stocks, so they're moving back to stocks like IBM, Merck and Pfizer.' Madden said Federated portfolios have been selling Sun Microsystems Inc., Cisco Systems Inc. and EMC Corp. and buying Lehman Brothers Holdings Inc., Morgan Stanley Dean Witter & Co. and paper company Fort James Corp. ``The Fed isn't kidding and they are going to slow the economy down,' Madden said. He said he expects the Federal Reserve will raise interest rates at least one more time this year.