To: Glenn who wrote (15787 ) 3/7/1999 10:46:00 PM From: Waldeen Read Replies (1) | Respond to of 90042
Glenn, telcos are good, I added more T (AT&T) as a position play last Fri. morning. Looking for a breakout above 90. I am uneasy about the tech trend, as it looks to me like the DOW has been catching up to the Techs last week. Tim's call on Dell last week was good, but I opted for more T instead; in large part since it is a major component of the DOW. Didn't have the cash to play both, so far DELL has done slightly better. T, they have completed their acquisition of TCI, and will likely float a bond issue to pay for the acquisition. Will paste that below. I see a lot of "hyping" of ATHM lately on SI. Personally, right at this point, I like T better than ATHM and would suggest people look at is as a more conservative play on ATHM, at this point IMO, given the linkage of these two and lower PE of T. If the tech bull market continues, ATHM may well out pace T. But on the downside, T will protect my b*tt better. The question I have is what happens when the DOW catches up the the techs, percentage wise YTD? Does the whole market continue upward, techs too? Right now, I'm looking for DOW stocks, as they seem to have more momentum IMO. still cautious on techs, Waldeen Compiled by CBS MarketWatch Last Update: 4:56 PM ET Mar 7, 1999cbs.marketwatch.com NEW YORK (CBS.MW) -- AT&T (T) is expected to float a $10 billion bond to finance the acquisition of holding company Tele-Communications Inc. The state of the U.S. bond market indicates demand for the bonds should be high, The Financial Times reported. The domestic multi-tranche offering may follow that of MCI WorldCom (WCOM) which offered $1.5 billion of three-year paper, $600 million of five-year paper, $2.25 billion of seven years and $1.75 billion of 30-year. As bond yields have been rising, many companies have delayed raising money, said Chase Manhattan's telecom analyst Tom Aust. It's a factor which has increased the amount of cash investors have to buy new bonds.