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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Sir Francis Drake who wrote (23165)	5/24/1999 8:52:00 PM
From: t2	Respond to of 74651

Morgan, MSFT held up very well. I had a major share buy order in at 76 1/2 sometime after 3 pm in my margin account. No fill!! I also had 2 different leaps 2001 buy orders after 3PM for 80 and 100 strike prices---no fills!! However, I am not ready to buy July calls yet. I was hoping for another dip down to 76 so my options orders would get filled but it did not happen. Not disappointed since it is still my largest holding. I am not a big believer in the technical support levels as being any significant indicator of future price moves or trend in this case. I tend to just look at whether it is a price that is considered a bargain. Mid 70s, 75 to 77 (just the range) is a bottom simply because the stock becomes a bargain in that price range, considering how strong the fundamentals are. I don't think too many mutual funds are going to base their buy decisions on whether the stock holds some theoretical or technical support level--74 or 67, based upon charts. I could expect that kind of movement from internet stocks, which are held to a larger extent by retail investors or day traders who may rely much more on TA. They would tend to trade more in my opinion/guess. In addition, net stocks are not really driven by fundamentals nearly to the extent Microsoft is. We could still see even as low as 73 sometime in the near future (however i doubt it), but that kind of dip will be very short lived and will only be significant for short term options traders. That is the kind of dip i would want to become invested 100% in MSFT. I would be out of my other large holding AT&T in a flash just to hold MSFT only. Of course only if the dip is not a result of a major or very serious loss in the anti-trust case. I think we are in a for a ride on this stock. IMHO, we are heading to 100 by sometime in July and even higher if we see a settlement with the DOJ/States. I tend to believe the big gains will be in late June and up to mid July. I am assuming a normal market in this prediction. My guess is that a lot of the tech stocks will have run ups leading to the June earnings release period. Best of Luck to all.