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Strategies & Market Trends : Position Trading Forum -- Ignore unavailable to you. Want to Upgrade?

To: margin_man who wrote (7067)	11/27/1998 2:42:00 PM
From: Glenn	Respond to of 7247

The nets are definitly in play. Thats where I'm staying short term. From reuters.... Nasdaq hits new high as Internet bulls charge on November 27, 1998 01:32 PM NEW YORK, Nov 27 (Reuters) - The Nasdaq composite index charged to a record high on Friday as the bulls continued their run among Internet stocks during a shortened, holiday week that was highlighted by merger news. The Nasdaq index closed up 30.94 points or 1.56 percent higher at 2,016.15, topping a previous high of 2014 reached on July 20, with advancers leading decliners 1,995 to 1,585. Once again, on-line retailers grabbed the spotlight as investors banked on the Christmas shopping season -- which kicked off on Friday -- to fuel new growth in cyberspace sales. Books-A-Million BAMM , which soared Wednesday when it announced plans to sell books on the Internet, leaped 26 to 38-15/16 as the most active Nasdaq issue, while online music sellers Navarre Corp. NAVR rose 6-5/16 to 12-3/16 and CDnow Inc. CDNW , rose 9-7/8 to 26-7/8. ONSALE Inc. ONSL , which sells computer equipment on the Internet, blew past a previous, 52-week high with a rally of 37-5/8 points to 97-5/8. Related Internet stocks also charged ahead. REUTERS Internet software producer BroadVision Inc. BVSN hit a new 52-week high of 36-3/8 on a gain of 9-1/8 points, while Internet service provider EarthLink Network Inc. ELNK gained 19-1/2 to a new high of 71-7/8. Open Market Inc. OMKT , which provides software for Internet transactions, surged 8-5/16 to a 20-3/4.