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To: H James Morris who wrote (27967)	11/24/1998 3:12:00 AM
From: H James Morris	Respond to of 164684

From WSJ. <With the exception of stocks tied to the Internet, those being scooped up are mostly blue chips, "IBM-type stocks," according to Mr. Acuff. (As for the Internet, it is "in its own world," he says, and some of its citizens soared to stratospheric levels Monday. Amazon.com, for example, was up 37 3/8 to 218.) "The time to worry is when they're buying lower quality and throwing caution to the wind," Mr. Acuff says. But investors could pay a price for fueling even some of these stocks to still-loftier multiples. "At these levels of valuation, you have to produce growth. You can't come up short, and next year will be a tougher year for profit growth" because "if the economy grows more slowly, that's going to put more pressure" on earnings.> Did you catch that? "throwing caution to the wind!"

To: H James Morris who wrote (27967)	11/24/1998 3:16:00 AM
From: H James Morris	Respond to of 164684

Goodnight, from WSJ. <In Internet stocks, several highfliers jumped to new highs surrounding hope that talks between technology firms would boost valuations and profits. America Online rose 4 3/8 to 89 1/4; while Yahoo! soared 30 7/16, or 16%, to 221 7/16, and Amazon.com rocketed up 37 7/8, or 21%, to 218, both new highs. "Some people are buying the future," says Timothy Grazioso, head of over-the-counter trading at Cantor Fitzgerald. "It seemed everyone was buying, from institutional investors to individuals." One stock that took off was eBay, an Internet auction company that opened trading near 50 in September and closed Monday at 193, up 46, or 31%. According to Mr. Grazioso and other traders, the Internet issues have been boosted by building sentiment that the stock market is recovering and from the scarcity of shares available. So-called short investors, who sold borrowed shares with the hopes of buying them back at a lower price, are now being forced to buy them back to cut their losses, traders said.>