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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Richie who wrote (33610)	9/30/1998 12:17:00 PM
From: Night Writer	Read Replies (2) \| Respond to of 97611

Isn't this a religious Holiday? Looks like we had the "Buy on the rumor, and sell on the news" activity with the Fed. Seems like one would lose money doing this all the time. Why were there so many people predicting 1/2 point and crying about the 1/4 point rate drop? Do you think those same people sold into the 1/2 point rumor rally? Hmmm, food for thought. NW U.S. TRADING SUMMARY: Wall Street stocks steadied after their opening decline on Wednesday, with major averages posting less severe declines than analysts had expected. At 10:45 a.m. ET, the Dow Jones Industrial Average was down 76 points to 8005. Analysts were encouraged by the Dow's ability to hold above the 8,000 level but cautioned more tests remained ahead. Stocks had been expected to open sharply lower amid lingering disappointment over the modest interest rate cut by the Federal Reserve on Tuesday, a new flurry of profit warnings and a very weak stock market performance in Japan overnight. The Nasdaq was off 24 points at 1710. The S&P 500 was off 13 to 1036. Declines led advances 18-to-7 on NYSE volume of 154 million shares. The 30-year Treasury was up almost a full point to yield 5.03%.