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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (3966)	3/17/1999 2:08:00 PM
From: sea_biscuit	Respond to of 15132

Wall Street Slides; Anxious About Dow By Jennifer Shaw NEW YORK (Reuters) - Stocks fell Wednesday as investors seemed unwilling to take another crack at lifting the Dow Jones industrial average through the 10,000 level, without first seeing some fundamental conviction from the market. Around 1:00 p.m. EST (1800 GMT), the Dow was off 48.61 points, or 0.48 percent, at 9,882.18. Early Tuesday, the index traded for less than a minute above the magic number, reaching 10,001.78 before backsliding and closing off 28 points at 9,930.47. The Nasdaq composite index was off 12.66 points, or 0.56 percent, at 2,426.61. ''I'm extremely nervous here,'' said Hugh Johnson, chief investment officer for First Albany Corp. ''What's allowing stocks to flirt with 10,000 has been aggressive traders, day traders, people trading on the Internet, people who pay a lot more attention to stock price performance rather than valuations,'' he said. ''It's hard to believe the market will sustain a 10,000 without more sober portfolio managers, people from Warren Buffett to Bob Stansky at Fidelity to any portfolio manager of any mutual fund. Many of them are worried because they think the market has become speculative and overvalued.'' In his recent annual report, billionaire investor Warren Buffett, who manages the giant Berkshire Hathaway Inc. (NYSE:BRKa - news) holding company, said he continues his ''search for large equity investments,'' but sees ''nothing on the horizon.'' [...]