Just 12 of the 50 stocks in ISDEX (The Internet Stock Index) showed positive gains since June 9 in a week of wobble and wacky market moves.
NASDAQ, for example, had its biggest one-day point gain ever June 16. For the past several weeks investors debated if the Federal Reserve would put the squeeze on capital in a debate only silenced by Consumer Price Index numbers which said prices were not rising in May vs. April.
Silence for now, until Fed chief Alan Greenspan talks to Congress today and the Fed governors meet at the end of June to discuss the economy.
Until the Fed makes some sort of public stance one way or another on inflation, I expect stocks and bonds to trade favorites in the mind of Wall Street.
That larger issue drives Internet stocks up or down in wild swings indicative of the reward-risk that they represent. Investors who remember November through April had plenty of bull. Since April’s 696.76 ISDEX high the bear has been out. It closed June 16 at 477.90, down 31% from the top.
Let’s see who’s on top and not:
ISDEX ® | 16-Jun-99 | % change | |
The Internet Stock Index | close | from | |
www.isdex.com | 09-Jun-99 | ||
-31% | |||
ISDEX | 696.76 | 477.90 | -5.4% |
NASDAQ | 2,517.83 | -0.1% | |
DJIA | 10,784.95 | 0.9% | |
Network Solutions | NSOL | $ 66.88 | 11% |
Inktomi | INKT | $ 108.81 | 11% |
StarMedia | STRM | $ 40.50 | 8% |
Go2Net | GNET | $ 115.00 | 7% |
Infoseek | SEEK | $ 49.25 | 6% |
Onsale | ONSL | $ 18.06 | 5% |
VocalTec | VOCLF | $ 11.31 | 5% |
Broadcom | BRCM | $ 113.50 | 4% |
ISS Group | ISSX | $ 30.75 | 4% |
Cisco | CSCO | $ 116.25 | 2% |
Sportsline USA | SPLN | $ 34.25 | 2% |
CheckPoint Software | CHKPF | $ 52.81 | 1% |
Security Dynamics | SDTI | $ 16.78 | -1% |
Amazon.Com | AMZN | $ 111.69 | -2% |
@Home Network | ATHM | $ 94.75 | -2% |
Broadcast.com | BCST | $ 108.50 | -3% |
Yahoo! | YHOO | $ 141.63 | -3% |
Broadvision | BVSN | $ 56.25 | -3% |
Axent | AXNT | $ 11.44 | -4% |
Open Market | OMKT | $ 12.75 | -4% |
America Online | AOL | $ 106.50 | -4% |
Prodigy | PRGY | $ 23.44 | -4% |
Network Associates | NETA | $ 13.63 | -4% |
Verisign | VRSN | $ 55.94 | -5% |
Xoom.com | XMCM | $ 45.88 | -6% |
CyberCash | CYCH | $ 12.00 | -6% |
Cyberian Outpost | COOL | $ 9.88 | -8% |
iVillage | IVIL | $ 38.00 | -8% |
Exodus | EXDS | $ 83.50 | -8% |
Preview Travel | PTVL | $ 15.50 | -9% |
Infospace.com | INSP | $ 41.81 | -10% |
Mindspring | MSPG | $ 64.88 | -10% |
Doubleclick | DCLK | $ 86.88 | -10% |
Egghead.com | EGGS | $ 9.94 | -10% |
Beyond.com | BYND | $ 21.31 | -10% |
CNET | CNET | $ 47.00 | -10% |
Verio | VRIO | $ 55.00 | -10% |
PSINet | PSIX | $ 38.75 | -11% |
Security First Technologies | SONE | $ 34.50 | -11% |
RealNetworks | RNWK | $ 60.75 | -11% |
Lycos | LCOS | $ 82.44 | -11% |
CMG Info | CMGI | $ 93.13 | -12% |
E*TRADE | EGRP | $ 35.63 | -12% |
CDnow | CDNW | $ 15.50 | -13% |
Ticketmaster-CitySearch | TMCS | $ 22.63 | -13% |
24/7 Media | TFSM | $ 26.50 | -15% |
Earthlink Network | ELNK | $ 41.00 | -18% |
eBay | EBAY | $ 148.75 | -19% |
Concentric | CNCX | $ 27.88 | -20% |
USWeb | USWB | $ 20.50 | -21% |
News among the moves:
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