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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: stan s. who wrote (97523)	4/17/2000 6:52:00 AM
From: stan s.	Read Replies (1) \| Respond to of 108040

Wall Street set to slip, earnings seen pivotal Monday April 17, 6:08 am Eastern Time LONDON, April 17 (Reuters) - U.S. shares were expected to fall again on Monday after Friday's massive sell-off roiled European and Asian markets and looked set to boomerang back to Wall Street. But the forecast decline in the upcoming New York session would not be on the same scale as on Friday, dealers said. Globex S&P futures signalled an opening loss of about 20 points for the Dow and Nasdaq futures pointed to a 30-point drop for the tech-heavy index. Dealers said much hung in the balance in the run up to the New York opening. ``Friday's sell-off was fuelled by margin calls and there may be a snowball effect today but it may not be as big,' said a dealer. Dealers said early steep losses for technology issues were turning around. Cisco (NasdaqNM:CSCO - news) traded at $57-1/2 on Instinet and IBM (NYSE:IBM - news) at $104-1/2, both $1/2 up from the U.S. close. ``There is some bottom-fishing going on. But whether this is going to turn out to be a sucker's rally, providing more liquidity for the sellers to let into, we shall have to wait and see,' said a second dealer. Activity will be concentrated around the technology issues and particularly those which produce earnings this week. Results are due out this week from IBM, Intel (NasdaqNM:INTC - news), Microsoft (NasdaqNM:MSFT - news) and America Online (NYSE:AOL - news).