Downward Drift Continues

This must be what it's like to play on a cellar-dwelling baseball team in the dog days of August. Week after week brings yet more frustration, more setbacks, more mind-numbing, soul-deadening disappointment. Yet you trudge on, because that is all you can do.

Am I glad I have another vacation coming up.

It was a down week for almost all 'Net sectors, with only Speed/Bandwidth showing a tiny sliver of a gain. This marks the second straight stay at the top for the infrastructure group, and its second consecutive weekly advance - pretty impressive considering the monthlong losing streak gripping Internet stocks as a whole.

How bad has it been? In the past four weeks, the 13 sectors have put together a paltry five gains. Which, if you're not keeping score, leaves 47 losses. And just like that forlorn baseball team, the misery won't end for Internet investors until sometime after Labor Day.

PERFORMANCE BY SECTOR
                          Ave. 7-Day
                           % Change

Speed/Bandwidth               0.4%
Financial Services           -0.4%
Search/Portals               -0.4%
Internet Services            -0.5%
Content/Communities          -1.3%
Advertising/Marketing        -1.6%
E-commerce Enablers          -1.7%
Consultants/Designers        -2.5%
Wireless                     -2.8%
ISPs/Access Providers        -4.4%   
Performance Software         -6.1% 
Security                     -7.4%
E-tailers                    -8.4%
 
TOP 10 GAINERS             7-Day % Gain         Category

CLRN   Clarent                 64.3%         Performance Software
SABA   Saba Software           50.0%         E-commerce Enablers
HGAT   HealthGate              40.0%         Content/Communities
PCOR   pcOrder.com             30.7%         E-commerce Enablers
GIGM   GigaMedia               30.4%         ISPs/Access Providers
CFLO   CacheFlow               28.6%         Speed/Bandwidth
FASH   Fashionmall.com         27.4%         E-tailers
AMZN   Amazon.com              25.1%         E-tailers
LINE   onlinetrading.com       25.0%         Financial Services
RHAT   Red Hat                 24.3%         Performance Software

TOP 10 LOSERS              7-Day % Loss          Category
 
LOAX   Log On America         -44.0%         ISPs/Access Providers
IPET   Pets.com               -38.2%         E-tailers
ADBL   Audible                -33.9%         E-tailers
IMNY   I-Many                 -33.5%         E-commerce Enablers
PLRX   PlanetRx.com           -30.4%         E-tailers
EVOK   Evoke Communications   -26.8%         Internet Services
CYSV   Cysive                 -26.5%         E-commerce Enablers
ALOY   Alloy Online           -26.2%         E-tailers
QUOT   Quotesmith.com         -25.6%         E-commerce Enablers
HITS   Musicmaker.com         -25.0%         E-tailers
 
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                             WIRELESS PRODUCTS/SERVICES

                       8/16    7-Day   7-Day  1-Month   YTD   Market
      Company         $Close  $Change %Change %Change          Cap
                     
SVNX  724 Solutions    35.63    5.81   19.5%  -18.6%    N/A     1.3B
HAND  Handspring       41.00    5.69   16.1%    5.1%    N/A     5.1B
PRTH  Parthus Tech.    30.00    2.00    7.1%  -10.3%    N/A     1.5B
GOAM  GoAmerica         9.00    0.25    2.9%  -35.4%    N/A   462.4
GWRX  Geoworks         11.63   -0.13   -1.1%  -24.7%  -31.1%  216.4
MCOM  Metricom         33.13   -1.06   -3.1%   11.6%  -58.2%    1.0B
AETH  Aether Systems  129.50   -6.50   -4.8%  -22.5%   79.5%    5.0B
IIIM  i3 Mobile         8.50   -0.50   -5.6%  -46.5%    N/A   193.0
PHCM  Phone.com        84.94   -6.19   -6.8%    0.3%  -27.3%    6.7B
PALM  Palm             33.75   -3.88  -10.3%   -3.2%    N