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Technology Stocks : International FiberCom, Inc. (NASDAQ- IFCI) -- Ignore unavailable to you. Want to Upgrade?

To: FastC6 who wrote (1792)	2/9/1999 2:57:00 PM
From: Rob S.	Read Replies (1) \| Respond to of 3541

Good sign of a market top is when good news fails to rally a stock. Money is flowing out of the equities markets because 1] the Japanese and other foreign investors are "repatriating" their money back into their economies - this part of the flood of money that helped lift tech stocks to stupid levels has reversed. 2] The US economy has gone through a period in which it benefited by rising wages and lowered prices of commodities and imported products. The benefit of that has already been factored into the outlook for companies and general economic well being. but now we are starting to see the negative effects of rising wages as it becomes the determining factor for inflation. Without more price drops from imported goods, something that is unlikely now that they have bottomed out, the stage is set for a modest rise in interest rates and more monetary constraint from the FED. Result - money pulls out of US equities and into other markets - enough so that the continued flow from retirement accounts, etc. can't continue to prop up obscene valuations. Maybe the market won't collapse but the euphoria is over and it's time to take money off the table at every opportunity, IMO.