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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (42041)	5/26/1999 9:44:00 PM
From: DlphcOracl	Read Replies (1) \| Respond to of 120523

I agree. The typical 'net pattern after they've been slaughtered (and they have -- since mid-April, the first-tier 'nets have all corrected 30 to 60%) is for them to run up sharply for 3-4 days. Even if the pattern doesn't hold in this instance because of investor reluctance to hold positions over a long holiday weekend, I believe they will start an uptrend by mid-June in anticipation of earnings reports. This may be the last really powerful ride upward with the internet stocks for a while. In addition to the usual summer doldrums with the tech/'net stocks, I anticipate an October 1998-type sell-off related to the Y2K business. Yes, I know this is overblown; however, I believe it will be a trigger for a sharp, emotional (and illogical) correction in the fall. Food for thought.