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To: patt who wrote (5530)1/12/1999 12:45:00 PM
From: waldo  Read Replies (1) | Respond to of 37507
 
>>"We've never seen anything like this in market history," Selkin said, referring to the stratospheric valuations of the Net stocks. "If one drops 20 points, does that really change anything? Today it looks lousy; longer term, nothing's changed."<<

NEW YORK (CBS.MW) -- Internet stocks seven-day record-setting streak, as investors took an opportunity to lock in profits following more than a week of spectacular gains.

"Old-timers would say that the market can't sustain itself after last week's pace," said Donald Selkin, chief equity and market strategist at Joseph Gunnar & Co. "Investors are letting some air out of the balloon."

cbs.marketwatch.com