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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: sandeep who wrote (43167)	4/24/2000 1:02:00 PM
From: Jacob Snyder	Read Replies (3) \| Respond to of 74651

Just used about half the cash I've been sitting on since January. Loaded up on MSFT. Also bought a bunch on 2002 70s, at 16 7/8. I placed a limit order at the ask, something I usually don't do. Usually, I try to split the bid-ask, but the stock was drifting higher, slowly, after hitting 65. Over 100 million shares traded, so far today. The weak hands are capitulating. The momentum guessers are selling. Wonder what they'll be buying next. Fuel cell companies? No, that's been done. No one really knows what a fuel cell is; they haven't been invented yet. The ultimate concept stock. Biotechs, with no products on the market, and no prospects of products for years? No, that's been done, too. B2C? Done and dead. B2B? Done and dying. Gee, the momentum guessers have tried just about everything. Maybe gold, Treasuries, or cash will be the next hot concept the day-trader's money piles into. I'm still holding back about 20% cash, for the day that happens. I've been watching this since the open, and it looks like 65 is the bottom for MSFT. That is almost precisely what I calculated as the fair value price for MSFT, when I first made my analysis of the company and stock, a while ago (and 20 points higher). Maybe a lot of value investors, (who want to buy growth, but were scared onto the sidelines by valuations) made the same calculations I did. It's fun to be right. I love days like today. It feels like October 1998, the last time I was buying with abandon.