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Technology Stocks : DRIV (DIGITAL RIVER). Get in on internet IPO. -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Miller who wrote (1155)	2/26/1999 2:47:00 PM
From: Platter	Read Replies (1) \| Respond to of 3198

From TheStreet.com...Itching to Buy By James J. Cramer 2/26/99 2:34 PM ET Itching to buy more, just itching. But let's see how the gauntlet that begins at 2 p.m. shakes out. We've got the parade of horribles, the Favors blast, and the NDX sell all to look forward to. It is way too early for a real rally to start. Those are distinctly 2:45 p.m. ventures. And there is a sense that tech could bring down everything. Another way to look at it: Bonds go up (yields go down) when computer spending, the ultimate barometer of strength, seems weaker. At our shop we now watch PC sales as closely as we do autos. The tenor, judging by the group, is not strong, and that may be spilling over to bonds that otherwise would have been spooked by the Singapore-like GDP growth of our economy. Oops, make that former Singapore growth. ABC -- anything but computers -- continues to do well. The action in the CMR, the Morgan Stanley Consumer Stock index, which I am long, is just fine, and the action in the BKX, the bank stock index, continues to surprise to the upside. The most amazing aspect of this market remains the DOT, TheStreet.com Internet Sector index (TheStreet.com doesn't profit on trades in the index). Didn't get hit by the bonds yesterday, not getting hit by the selloff in the MSH (the Morgan Stanley High Tech index) today. One thought, passed on to me by a prescient reader, is that the Net is growing so fast that a measly little 75-basis-point backup just can't derail all those page views. Hey, better than most. Don't forget my rewrite this weekend. My wife is starting to get tired of these Friday nights at the computer, so it may be later than I like, but neither cybersnow, sleet nor whatever will stop me, old Slumping Jim Cramer.