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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (4539)	3/9/1998 1:42:00 PM
From: Kip518	Read Replies (3) \| Respond to of 18691

Short squeeze or lemming run? Internet stocks surge as investors shift assets Reuters Story - March 09, 1998 13:18 LOS ANGELES, March 9 (Reuters) - Internet company stocks surged Monday as investors rushed to shift funds out of the stocks of hardware and chip makers, analysts said. The change of strategy made Internet service providers and companies involved in Internet commerce among the biggest gainers on Nasdaq. Amazon.Com was up 7-1/2 to 84-1/4. Yahoo! Inc jumped 5-3/16 to 85-3/4. Excite Inc rose 4-5/16 to 52-13/16, and Onsale Inc added 2-13/16 to 31-1/2. On the New York Stock Exchange, America Online Inc was up 3-1/2 to 125. The steep gains followed a wave of earnings warnings last week by several computer and chip makers, which was helping make Internet companies the investment of choice in the technology sector. "As we get into the next (earnings) reporting period, we are seeing more preannouncements. It appears investors are shifting their assets," said BancAmerica Robertson Stephens analyst Keith Benjamin. Among the companies warning of weaker than expected earnings last week were Compaq Computer Corp , Motorola Inc and Intel Corp . While these companies are feeling the pinch of reduced demand, analysts said the slowdown does not appear to affect Internet-based businesses, which continue to benefit from a surge in the number of people going online. ((Los Angeles newsdesk (213) 380-2014, fax (213) 622-0056))