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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (19501)	10/1/1998 5:07:00 PM
From: Techie	Read Replies (1) \| Respond to of 164684

Bill, what if another big hedge fund were to get into trouble? -- U.S. tech stocks buckle =3 -- Tech stocks like Yahoo! Inc <YHOO.O>. have soared over the past two weeks, while the Dow Jones Industrial Average has fallen. Yahoo on Thursday fell 10-1/4 to 119-1/4 -- still almost 30 percent above its price of 90 on September 18. Similarly, Amazon.com <AMZN.O> traded then at 80 and AOL changed hands at 98. Traders suggested that fund managers may be selling tech stocks that they were holding in their portfolios through the just-completed third fiscal quarter. "Maybe some fund managers wanted to show heavier weighting in techs in the last quarter and now perhaps they feel freer to sell them," Coolidge said. "Starting early in the quarter, you (as a fund manager) have freedom to do what you would like," added Harrington. "If that is true, then they are voting today that they don't want to be in the tech stocks in this quarter." Other slumping tech stocks included PC maker Dell Computer Inc. <DELL.O>, off 2-1/2 to 63-3/4 in afternoon trade, and software maker Sterling Commerce Inc. <SE.N>, off 10-9/16 to 24-1/16. Microsoft Corp.<MSFT.O> fell 4-1/16 to 106, chip maker Intel Corp. <INTC.O> lost 2-3/4 to 83 and VERITAS Software Corp. <VRTS.O> shed 5-1/4 to 50. Ascend Communications Inc. <ASND.O> slipped to 41-5/8, off 3-7/8, while MindSpring Enterprises Inc. <MSPG.O> fell 3-5/8 to 37-7/8.