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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: tonyt who wrote (57074)	4/11/1999 11:26:00 PM
From: Captain Jack	Read Replies (1) \| Respond to of 97611

tony--- yes everyone will be on the "I told you so" soap box tomorrow.Actually I should have expected the boiler room response "there is no reason for our stock price to be in this range"... The Aussies are off their low today and (REUTERS) Nikkei = 2 Nikkei = 2 Traders said slight weakness in New York stocks overnight added to the sense of caution. A sharp fall in S&P 500 futures traded on Globex, after Compaq Computer Corp <CPQ.N> announced a cut in its earnings forecast following the New York market's close on Friday, stoked investor fears of a further drop in New York stocks on Monday. But traders said the Nikkei will likely recover its momentum as foreign buying is expected to continue, although at a slower pace than the record level seen in March. Foreigners' net purchases of Japanese stocks, based on contracts, totalled 1.6 trillion yen in March, the Ministry of Finance said on Monday. "Foreign buying will continue hugely because most foreigners are underweight in Japan and they see it as a hedge against a fall on Wall Street," said Markwick-Smith.