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DoubleClick, Barron's Send Net Stocks Lower

Shares of Internet companies declined on Monday after a downgrade to DoubleClick and another Barron's article on cash burn rates.

The ISDEX fell 8 to 719. The Dow rose 14, the Nasdaq was up 7 and the S&P 500 added 2. NYSE volume was 424 million shares, while 629 million shares changed hands on the Nasdaq. Advancers led decliners 14 to 12 on the Big Board and 20 to 14 on the Nasdaq. The economic calendar for the week is light, and the big news is likely to be the OPEC meeting and Oracle's and Micron Technology's earnings reports later this week.

Barron's was at it again, with another article on dotcom cash burn rates. Companies that may run out of cash in the coming months include Netzee , down 1 5/8 to 5 1/8, Bluefly , off 3/4 to 2 1/2, RoweCom , down 9/32 to 5 7/16, CDnow , down 1/4 to 2 13/16, drkoop.com , off 5/16 to 1 9/16, Claimsnet.com , off 1/2 to 3 1/2, Pilot Network Services , down 1 1/2 to 11 1/2, US Search.com , off 3/32 to 1 23/32, Streamline.com , falling 9/16 to 2 9/16, Netivation.com , off 5/16 to 2 1/8, Mortgage.com , down 3/16 to 1 7/16, and PlanetRx.com , off 11/32 to 2 5/32.

Shares of DoubleClick fell 3 1/8 to 35 3/8 after trading as low as 32 7/8. Robertson Stephens reduced revenue estimates on the company due to a difficult Internet advertising environment, and said the stock will likely move sideways for the next 3-6 months. Last week I mentioned that the stock's chart pattern indicated that the stock could be headed for the low 30s.

Shares of S1 Corp. , another weak stock I highlighted last week, fell 6 1/8 to 21 15/16 on a First Union Securities downgrade from Strong Buy to Buy. First Union cited increased price competition and reduced its price target from $150 to $35. So what else looks weak? Amazon.com , down 2 1/4 to 43 3/4, has a particularly unattractive chart pattern.

MicroStrategy rose 6 1/8 to 44 11/16 after the troubled company's oft-rumored financing finally materialized. MicroStrategy said it raised $125 million through a convertible preferred stock sale.

Shares Exodus Communications continued to run up in advance of its 2-for-1 split after the close tomorrow. The stock rose 2 3/8 to 105 5/8, with an intraday high of 108 1/2.

Recent IPO Sonus Networks gained 10 7/8 to 109 7/8. The firm's post-IPO quiet period ends today.

Musicmaker.com , off 1/8 to 1 7/8, reached a deal with America Online to end their interactive marketing agreement. Financial terms were not disclosed. AOL, off 1 5/8 to 53 1/16, announced plans to begin selling $250 TV set-top boxes that will let users chat and send instant messages while watching TV. The service, to be called AOLTV, will debut in Phoenix, Sacramento, Baltimore and five other places to be determined in July.

Healtheon/WebMD announced an increase in the exchange ratio for its acquisition of Medical Manager from 1.3 to 2.5. HLTH fell 1 7/8 to 15, while shares of MMGR gained 6 15/16 to 33 13/16.

ExciteAtHome Corp. gained 11/16 to 18 15/16 on news that AtHome Japan is launching a high-speed Internet service in the Tokyo metropolitan area and northern Kyushu.

Some technical comments on the market: We came pretty close to the lower boundary of the bearish "diamond" pattern on the Dow on Friday; I would watch for a test of that level here, just under 10,400 (call it 10,375). A break of that line would be pretty bearish, and would set up a test of the base of the bearish descending triangle in the 10,200-10,300 range. A break of 10,200 would probably s