Re: [CNET] AOL and Inktomi fire a shot across Akamai's bough

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From: Linda (
Date: Wed Aug 23 2000 - 21:44:29 PDT

Adam wrote:

<< what's up with the S&P Midcap and NYSE Composites making new
all-time highs today?>>

Volume was moderate, breadth not great.

<<And what's with stocks like Intel, Sun, Corning, GE, Boeing, Ciena,
Broadcom, Advanced Micro Circuits, Newport, Schlumberger, Apache, and
Juniper making new all-time highs this week?>>

You know I don't follow all of these, but most of the tech stocks you
mentioned are making new highs on low to moderate volume, and
many off of high-risk V-bases.

<<And why's the Nasdaq up 26% in the last three months?>>

So far Market internals (Advance/Decline numbers and volume) confirm the
move up on Nasdaq, but note the generally low volume and significant
resistance at around 4200. Then again, it is August.

<<It's like no one recognized that there was this gigantic crash in
March through May.>>

My impression is that Nasdaq still needs time, Adam, before we get a
lasting rally. Naz remains in trading range.

<<Except, of course, for the Internut stocks, which are "mostly dead".>>

Many Internet stocks did well today. Might be in part a short-covering
rally, but all trend reversals start that way, right? Look at the
internet indexes - GIN, DOT, INX - all did quite well. When the
institutions have accumulated enough, we can look forward to those
analyst upgrades...


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