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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: lurqer who wrote (6279)	10/6/2000 5:29:35 PM
From: Jill	Respond to of 65232

Thomson I Watch: * It was ugly ending to an ugly week. Investors pummeled tech stocks, sending the NASDAQ Composite down 3.2% to 3,361. The Comp lost 8.5% on the week. The Dow Jones Industrial Average fell 1.2% to 10,597 and ended the week down 0.5% overall, as cyclical stocks supported the Dow earlier in the week. Today's damage was widespread with financials, retailers, techs, and industrial issues all falling sharply. As earnings season gets under way next week, investors will begin to evaluate whether their fears of poor earnings have come to fruition. * Institutional Money Flows: Semiconductors were punished on concerns over slowing growth. ADI fell $8 1/16 to $84, KLAC closed down $2 7/8 to $35 5/16, and LLTC dipped $3 7/8 to $30 1/4. Investors dumped shares of investment banks amid rumors that at least one large company in the group would report a large hit on profits due to bad loan write-offs. LEH fell $6 15/16 to $135 7/8, LM dropped $3 5/16 to $54 11/16, and GS lost $6 to $108 7/8. Telecom equipment firms fell sharply after Concord Communications (CCRD) said 3Q earnings would come in below expectations due to a decline in capital spending among domestic telecommunications carriers. CCRD plummeted $12 3/8 to $9, GLW lost $6 1/2 to $90 7/16, and NT lost $4 3/4 to $62. Building materials stocks fell sharply after Owens Corning (OWC) filed for bankruptcy. OWC lost $1 1/4 to $3/4, ACK dived $1 3/8 to $5 5/8, and USG dropped $2 3/4 to $16 7/8. * Bonds rallied sharply in a "flight to safety." Treasury Bonds closed up 30/32 to 105 26/32