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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Jake0302 who wrote (14772)	1/19/1999 11:00:00 PM
From: GST	Read Replies (1) \| Respond to of 74651

< we STILL have a ton of cash sitting on the sidelines in institutional investors coffers> That is rapidly changing as over $6 billion left stock funds last week. This is a liquidity driven market, definitely. But I would not assume that the liquidity can be taken for granted. Greenspan = liquidity. He giveth and he taketh away. Why do you think people pay attention to him? Why do people consider him the most powerful of economic actors? Not because of his mumbling, or the content of his speeches, but for one reason and one reason only -- he controls how much money there is out there chasing stocks. People are listening for signs of changes in the liquidity in the market. If AG 'takes away the punchbowl' it changes everything. MSFT is a very fine company in an overvalued market. Maybe your love of MSFT has made it harder for you to see the bigger picture.