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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Jan Crawley who wrote (42431)	4/6/1998 7:33:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 61433

Nasdaq slips as investors take profits after highs Reuters Story - April 06, 1998 16:38 %DPR %US %BUS %ENT %INS %BNK %ELI %STX %HOT CCI TRV MSFT INTC ORCL CSCO V%REUTER P%RTR NEW YORK, April 6 (Reuters) - The Nasdaq Composite Index fell more than 26 points Monday as investors took profits after four straight record closes, traders said. The index unofficially dropped 26.24 points -- or 1.41 percent -- to 1829.16, even as the Dow Jones Industrial Average soared nearly 50 points to close above 9000 for the first time after Citicorp and Travelers Group Inc agreed to merge in an $80 billion deal, the biggest corporate combination ever. Volume was more than 765 million shares and decliners led advancers 13 to 9. Microsoft Corp , the Nasdaq's most-active stock, fell 3-1/16 to 89-15/16 on more than 18.5 million shares traded. Among other active issues, Intel Corp lost 2-56/64 to 73-7/8, Oracle Corp fell 1 to 27-1/8 and Cisco Systems Inc fell 1-11/16 to 69. Some market experts, noting the decline in nearly every major Nasdaq issue, said the index was poised for a severe correction, and that some important technology stocks were already in bear markets. "I think you'll see a 5-to-8 percent drop on the Nasdaq from here," said Gary Kaltbaum, a technical market analyst at J.W. Charles. "The technology stocks are going to get smashed."