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To: JC Reddy who wrote (18265)5/24/1999 8:57:00 PM
From: Maverick  Respond to of 41369
 
Internet stocks suffered stinging losses Monday as concerns about rising interest rates, a
flood of new Net share sales and an increasing competitive landscape on the Web weighed
heavily on the struggling group. Among the biggest losers from all-time highs include
Amazon.com (AMZN: news, msgs) and Yahoo (YHOO: news, msgs). Both stocks are down
more than 40 percent from recent peaks. Not helping sentiment, lingering concerns that major
Web portals are losing traffic to niche sites. Last week, Media Metrix reported that Web
networks such as Lycos (LCOS: news, msgs), Excite (XCIT: news, msgs), and America
Online (AOL: news, msgs) were losing visitors between March and April. Additionally, some
93 Internet companies are set to go public within the next couple of months, which analysts
said will add an enormous amount of supply to a sector where demand has decreased. - CBS
Marketwatch



To: JC Reddy who wrote (18265)5/24/1999 9:56:00 PM
From: Roger  Read Replies (1) | Respond to of 41369
 
I saw an interesting post from someone on the Raging Bull or Yahoo threads (cant remember which). The gist of which went something like this - the recent volatility in the tech sector is mainly due to computer programs which are driving the entire markets way up or down rather than individual securities. This may (?) be a ploy to shakedown the weak players - both long and short. Interesting theory - can anyone add more to this?

TIA


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