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

To: Charles Tutt who wrote (45034)	5/22/2000 8:06:00 AM
From: John F. Dowd	Respond to of 74651

CT: This info was given to me by a lurker who thought you would be happy to see it: Lifestyles : Sunday, May 07, 2000 Stock skid doesn't dent home sales by Elizabeth Rhodes Seattle Times staff reporter Michael Nelson and David Updike anxiously wondered what they'd done to themselves when they opened their Seattle Times and saw the banner headline, "Market loses $1 trillion," above news that the Nasdaq composite index had suffered its worst fall ever. That doomsday was April 14. Nelson and Updike had just put the For Sale sign up in front of their Capitol Hill home. "We looked at each other and said, 'What are the odds we'd put a high-end house on the market the day before the Nasdaq crashes?' " Nelson marveled. Not only did the Nasdaq crash, but Northwest stocks fell like dominoes: Boeing, Safeco, and most spectacularly the mighty Microsoft, which suffered its worst plunge in 14 months. Would there be any buyers out there - or would potential purchasers instead be hunkered over shrinking stock options, waiting for better times? That question has been on the minds of real estate pros for the last three weeks, as the stock market has continued to shudder, and the government announced plans to break up Gates & Co. On April 25, Microsoft suffered its worst daily loss in 13 years, closing at $66.625 - down from $119.938 in December. (Last week it was trading in the low $70s). On the Eastside, which is ground zero for both high-tech money and high-priced houses, Michael Smith, owner of Prudential Michael Smith Realtors, says the effect has been mixed. "Those people who are heavily invested in the market and invested in stock options obviously are asserting far more caution in their buying decisions," Smith says. "There have been some sale fails. JFD

To: Charles Tutt who wrote (45034)	5/22/2000 8:32:00 AM
From: werefrog	Respond to of 74651

"You sure that's not July?" Not 100% sure. My source for that June date was another BB. JH