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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (820)	4/5/2000 10:30:00 AM
From: Chip McVickar	Respond to of 33421

There's a 60 min medine line at 1495ñspoo that needs to be broken first.... 10:30 is morning crunch time...... ~~~~~~~~~~~~~~~~ Wednesday April 5, 9:21 am Eastern Time Merrill tech analyst says tech fundamentals strong NEW YORK, April 5 (Reuters) - Merrill Lynch's technology research manager said the recent tumble in tech stocks represents only a change in value, not a change in the sector's fundamentals. Merrill's Steve Milunovich reiterated his view that fundamentals are strong for the technology group. But he added that Nasdaq's correction was overdue. ``We view the market action over the last few days as a valuation not a fundamental adjustment,' Milunovich said in a research note. ``The key issue from a technology analyst standpoint is that the fundamentals in technology are strong currently.' ``The results from our surveys indicate bullishness on spending across almost all sectors,' he said. Milunovich noted that technology investors are beginning to care about the business models of tech companies, particularly in the Internet sector where the share prices of many start-ups had rocketed on the base of losses, not earnings. ``We think within technology the place to be is the infrastructure space where companies with real earnings will enjoy spending by the Internet companies,' Milunovich said. The Nasdaq composite tumbled on Tuesday, adding to Monday's losses to push the gauge down more than 20 percent from its March high of 5,048.62. Nasdaq rebounded by the closing bell after briefly dipping into negative territory for the year, below its 1999 year-end close of 4,069.