Synchronized Sinking: Once Again, All ‘Net Sectors Fall

Two weeks ago, after a promising start to September, all 13 Internet
sectors lost ground. This dismal performance was repeated last week.

And this week? That’s right, it’s a (red) hat trick, as ‘Net groups
are shut out for the third consecutive time.

Here’s hoping this is the darkest before the dawn, but my gut feeling
is that continued investor anxiety over Q3 earnings will hold down
‘Net tickers at least until the real numbers start rolling in.

Maybe after that the market will get caught up in the annual
fourth-quarter, holiday spending excitement. Last year’s Q4 saw
a run-up that extended across most sectors, with the glaring
exception being the group expected to benefit most from seasonal
shopping frenzy – e-tailers. Shares of online merchants were
hammered last fall, despite a continuing stream of news stories
and research reports touting record online shopping statistics.

Back then, investors questioned the viability of many online
retailers. This year, they have even more reason to do so, as
many e-tailers are almost out of cash and trading at record low
stock prices.

* Market Cap figure is in millions unless otherwise noted.

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PERFORMANCE BY SECTOR
Ave. 7-Day
% Change

Wireless -3.8%
Performance Software -6.1%
E-commerce Enablers -6.5%
Security -7.9%
Speed/Bandwidth -8.2%
E-tailers -9.8%
Advertising/Marketing -11.0%
Financial Services -11.6%
Content/Communities -12.2%
Internet Services -12.2%
Consultants/Designers -12.7%
ISPs/Access Providers -12.8%
Search/Portals -14.9%

TOP 10 GAINERS 7-Day % Gain Category

CKCM Click Commerce 39.20% E-Commerce Enablers
NTGX net.Genesis 38.20% Performance Software
OTGS OTG Software 36.20% Performance Software
IMNY I-Many 34.90% E-Commerce Enablers
HAND Handspring 30.50% Wireless
DTEC Delano Tech. 27.70% Performance Software
RSNT Resonate 27.30% Speed/Bandwidth
SSSW SilverStream 27.30% Performance Software
WQNI WorldQuest 26.70% Internet Services
INSW InsWeb 22.60% E-tailers

TOP 10 LOSERS 7-Day % Loss Category

INTW InterWorld -62.50% E-Commerce Enablers
PCLN priceline.com -54.10% E-tailers
EPRS Eprise -44.70% Performance Software
SQSW Sequoia Software -42.60% Performance Software
LUMT Luminant Worldwide -42.40% Consultants/Designers
ARTD Artistdirect -42.00% Content/Communities
AWEB Autoweb.com -39.70% E-Commerce Enablers
IPIX Internet Pictures -34.90% Performance Software
IVIL iVillage -34.70% Content/Communities
BWAY Breakaway Sol. -34.50% Internet Services

********************************************************************

WIRELESS PRODUCTS/SERVICES

9/27 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap

HAND Handspring 67.31 15.75 30.5% 95.8% N/A 8.4B
PHCM Phone.com 120.38 19.00 18.7% 39.1% 6.9% 10.0B
GOAM GoAmerica 8.25 1.06 14.8% -27.9% N/A 423.9
IIIM i3 Mobile 6.50 0.06 1.0% -26

.8% N/A 148.2
VYYO Vyyo Inc. 30.50 -0.88 -2.8% -7.6% N/A 1.1B
PUMA Puma Tech. 19.63 -0.81 -4.0% -23.0% -69.1% 830.3
WFII Wireless Facil. 61.06 -2.94 -4.6% -22.0% 44.2% 2.6B
PRTH Parthus 39.06 -2.19 -5.3% -4.7% N/A 2.0B
SVNX 724 Solutions 48.00 -3.00 -5.9% 2.4% N/A 1.8B
PALM Palm 48.88 -5.63 -10.3% 16.5% N/A 27.6B
IWAV interWAVE 8.50 -1.00 -10.5% -23.6% N/A 395.8
INSP InfoSpace 28.56 -6.19 -17.8% -22.0% -45.0% 6.7B
MCOM Metricom 25.50 -5.56 -17.9% -34.4% -66.6% 783.3
AETH Aether Systems 105.00 -24.88 -19.2% -24.9% 51.0% 4.0B
GWRX Geoworks 7.66 -2.41 -23.9% -30.8% -52.9% 165.8
-------------------------------------------------------------------
Wireless Ave. -3.8%

Wireless handheld device maker Handspring leads the sector
for the week and tops all Internet stocks for the month, nearly
doubling in price since late August. Over the past three months,
HAND has gained 178%, second only to CacheFlow among all 'Net
tickers. The reasons are many: 1) A resurgence of excitement
regarding mobile 'Net access, 2) Analysts' bullish projections
of Handspring's revenue growth, 3) The company's plan to sell
a cellphone attachment that can turn a palmtop into a mobile phone.
Those devices are slated to go on sale in November. Two other
wireless companies - Palm (85%) and Phone.com (76%) - are among
the top seven Internet gainers over the past three months.

SEARCH/PORTALS

9/27 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap

BOUT About.com 37.50 0.44 1.2% -1.4% -57.0% 677.0
LCOS Lycos 67.42 0.05 0.1% -3.9% -12.7% 7.4B
AOL America Online 53.50 -1.44 -2.6% -10.4% -27.6% 124.3B
AOLA AOL/Latin Amer. 7.81 -1.19 -13.2% -0.8% N/A 2.0B
GOTO GoTo.com 15.00 -2.44 -14.0% -14.3% -73.7% 782.9
SINA SINA.com 16.00 -2.88 -15.2% -23.4% N/A 651.0
CHINA Chinadotcom 13.50 -2.69 -16.6% -12.9% -64.6% 1.2B
YHOO Yahoo! 90.38 -19.31 -17.6% -26.7% -57.0% 49.6B
STRM StarMedia 6.81 -1.66 -19.6% -14.5% -82.5% 448.4
SOHU Sohu.com 6.03 -1.47 -19.6% -6.3% N/A 188.3
LOOK LookSmart 12.19 -3.06 -20.1% -27.5% -53.5% 1.1B
ASKJ Ask Jeeves 17.06 -6.56 -27.8% -39.1% -84.4% 608.7
DIG Disney-Internet 9.81 -3.88 -28.3% -34.9% -57.4% 1.5B
-------------------------------------------------------------------
Search/Portals Ave. -14.9%

Portal plays aren't cutting it these days, which is why it's
amazing to me that CMGI continues to talk about an IPO for
AltaVista. It's a flop waiting to happen. Speaking of flopping,
one of my less luminous picks for the year, Walt Disney Internet
Group, unveiled the long-awaited revamp of its Go.com Web search
service, which now focuses leisure content to better leverage
Disney's brand and reputation. I hope the kids like it better
than investors. No specific news to explain Ask Jeeves' latest
plunge. ASKJ is the biggest loser in this group for the month
and for the year.

CONTENT/COMMUNITIES

9/27 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap

HOOV Hoover's 6.75 0.50 8.0% -5.3% -20.5% 87.9
DTHK DigitalThink 40.25 2.88 7.7% 24.3% N/A 1.4B
INTM internet.com 29.31 0.44 1.5% -1.9% -42.2% 735.6
KNOT Knot 3.63 0.00 0.0% 3.6% -55.8% 53.0
LAUN Launch Media 6.75 -0.06 -0.9% -7.7% -63.3% 91.5
NBCI NBC Internet 6.19 -0.06 -1.0% -36.1% -91.7% 386.9

STAD Student Advantage 6.31 -0.19 -2.9% -21.1% -70.7% 228.0
TPN TownPagesNet 1.44 -0.06 -4.0% -11.5% -71.1% 13.8
IASIA Asiacontent.com 2.81 -0.13 -4.3% N/A N/A 96.6
SCRM ScreamingMedia 9.75 -0.50 -4.9% -17.5% N/A 364.9
SNOW Snowball.com 1.94 -0.13 -6.1% -27.0% N/A 72.6
SPLN SportsLine.com 14.44 -1.06 -6.9% -20.1% -70.3% 381.4
IMPV ImproveNet 1.97 -0.16 -7.4% -1.6% N/A 32.9
NETR NetRadio 1.44 -0.13 -8.0% -20.7% -82.0% 14.4
TCTY Talk City 1.38 -0.13 -8.3% -4.4% -94.6% 34.4
WOMN Women.com 2.75 -0.25 -8.3% -12.0% -80.1% 128.7
TSCM TheStreet.com 4.56 -0.44 -8.8% -46.3% -75.5% 122.3
ONES OneSource 11.00 -1.13 -9.3% -3.8% -15.7% 128.5
HCEN HealthCentral 2.38 -0.25 -9.5% -43.7% -66.5% 107.2
HOMS Homestore.com 43.25 -5.25 -10.8% -19.9% -40.0% 3.5B
PASA quepasa.com 0.97 -0.12 -11.4% -3.1% -92.1% 18.1
EDGR EDGAR Online 4.44 -0.59 -11.8% -9.0% -38.0% 55.3
ZDZ ZDNet 15.38 -2.06 -11.8% -24.1% -24.6% 1.2B
CNET CNET Networks 26.13 -3.63 -12.2% -24.5% -52.6% 2.3B
EWBX EarthWeb 9.00 -1.25 -12.2% -30.4% -81.6% 93.7
TGLO theglobe.com 1.00 -0.16 -13.5% -27.3% -87.7% 31.0
KOOP drkoop.com 1.30 -0.20 -13.5% -3.5% -88.8% 45.3
INFO Infonautics 2.56 -0.41 -13.7% -24.1% -62.3% 31.3
MPPP MP3.com 4.09 -0.72 -14.9% -51.5% -86.7% 279.1
HGAT HealthGate Data 1.03 -0.19 -15.4% -17.5% N/A 18.4
HSTM HealthStream 2.06 -0.38 -15.4% -2.9% N/A 41.2
TURF iTurf 1.13 -0.22 -16.3% -33.4% -90.7% 23.8
SALN Salon.com 1.50 -0.31 -17.2% -22.6% -69.1% 20.8
MLTX Multex.com 17.00 -3.56 -17.3% -15.5% -53.5% 516.6
SWBD Switchboard 5.59 -1.25 -18.3% -36.5% N/A 137.9
GNET Go2Net 51.38 -11.50 -18.3% -21.6% -39.2% 1.6B
MKTW MarketWatch.com 8.00 -1.94 -19.5% -30.8% -77.4% 131.4
VERT VerticalNet 32.63 -10.81 -24.9% -41.9% -59.0% 2.8B
VDAT Visual Data 3.44 -1.31 -27.6% 1.9% -69.2% 28.9
QKKA Quokka Sports 3.94 -1.53 -28.0% -42.7% -69.1% 182.5
LOIS Loislaw.com 5.63 -2.25 -28.6% -27.4% -85.2% 118.3
IVIL iVillage 3.06 -1.63 -34.7% -56.6% -84.4% 91.0
ARTD Artistdirect 1.25 -0.91 -42.0% -53.5% N/A 46.1
--------------------------------------------------------------------
Content/Comm. Ave. -12.2%

Following in the now-familiar tradition of online music sites
being dissed by investors, ARTISTdirect hits a real low note with
a 42% loss this week. Fortunately, help is on the way in the form
of "David Coverdale, The Legendary Voice of Whitesnake," who is
using the site to launch a solo career. Can the former leader of a
hard-rock "hair" band help save ARTD? Stay tuned. Thought the
departure of CEO Candace Carpenter to the chairman's seat would
work wonders for women's online content provider iVillage? Ah,
life is not that simple. The truth is, only one person can save
iVillage. I refer, of course, to David Coverdale, The Legendary
Voice of Whitesnake.

E-TAILERS

9/27 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap

INSW InsWeb 2.38 0.44 22.6% 15.1% -90.4% 83.6
ASFD Ashford.com 3.44 0.31 10.0% 19.6% -67.8% 155.6
LMIN Lastminute.com 10.00 0.13 1.3% -18.4% N/A 300.7
AMZN Amazon.com 37.88 0.38 1.0% -11.8% -48.8% 13.5B
EBKR Ebookers.com 5.75 0.00 0.0% -8.0% -65.8% 97.9
GDEN Garden.com 1.38 0.00

0.0% -15.4% -83.7% 24.2
TIXX Tickets.com 1.19 0.00 0.0% -30.9% -91.5% 70.2
VSTY Varsity Group 0.91 0.00 0.0% -14.8% N/A 14.3
FATB Fatbrain.com 3.88 -0.03 -0.8% -3.1% -84.1% 50.5
ALOY Alloy Online 7.56 -0.19 -2.4% -15.4% -50.5% 158.1
EFTD FTD.COM 2.13 -0.06 -2.9% -5.6% -58.3% 103.4
SFTY eSAFETYWORLD 1.31 -0.06 -4.5% -19.2% N/A 3.9
BGST BigStar 0.63 -0.03 -4.8% 5.2% -91.7% 6.4
FASH Fashionmall.com 2.19 -0.13 -5.4% 3.0% -49.2% 16.4
DSCM Drugstore.com 4.25 -0.25 -5.6% -29.2% -87.9% 225.6
PLRX PlanetRx.com 0.50 -0.03 -5.9% -30.5% -96.4% 25.8
VSHP VitaminShoppe.com 1.00 -0.06 -5.9% -3.0% -88.7% 20.4
BNBN barnesandnoble.com 5.38 -0.38 -6.5% 42.2% -61.0% 785.5
SKDS SmarterKids.com 1.75 -0.13 -6.7% -3.5% -75.1% 36.0
EXPE Expedia 14.75 -1.13 -7.1% -8.2% -56.6% 653.9
ROOM Hotel Network 36.88 -3.13 -7.8% 8.1% N/A 2.0B
BYND Beyond.com 1.00 -0.09 -8.6% 3.2% -86.8% 38.1
EMUS EMusic.com 1.63 -0.16 -8.8% 4.0% -83.7% 70.0
TMCS Ticketmaster 15.75 -1.75 -10.0% -31.5% -57.8% 1.4B
ESTM E-Stamp 1.03 -0.12 -10.8% -45.0% -95.2% 41.1
COOL Cyberian Outpost 4.00 -0.58 -12.6% 16.3% -58.5% 113.9
CTIX Cheap Tickets 9.50 -1.38 -12.6% -11.1% -28.5% 230.3
SQST SciQuest.com 7.13 -1.03 -12.6% -24.0% -90.8% 206.6
HITS Musicmaker.com 0.56 -0.09 -14.3% -35.7% -90.1% 18.6
WBVN Webvan Group 2.63 -0.44 -14.3% -36.4% -83.6% 874.0
AHWY audiohighway.com 0.75 -0.13 -14.3% -36.9% -91.0% 4.8
EBAY eBay 63.50 -13.06 -17.1% 4.0% 4.5% 7.0B
BUYX BUY.COM 3.00 -0.63 -17.2% 11.6% N/A 393.5
IPET Pets.com 0.78 -0.19 -19.3% -16.7% N/A 22.8
EGGS Egghead.com 2.47 -0.59 -19.4% -8.1% -84.3% 104.6
ETYS eToys 4.94 -1.19 -19.4% 4.0% -80.6% 602.4
AMEN Crosswalk.com 1.44 -0.38 -20.7% -32.3% -71.1% 11.2
PPOD Peapod 1.28 -0.47 -26.8% -36.0% -84.7% 23.0
ADBL Audible 1.25 -0.47 -27.3% -33.3% -91.4% 34.4
BFLY Bluefly 2.50 -1.00 -28.6% -21.6% -75.0% 12.3
PCLN priceline.com 10.75 -12.69 -54.1% -61.3% -76.6% 1.8B
-----------------------------------------------------------------------
E-tailers Ave. -9.8%

Number of e-tail stocks selling at $1 per share or lower: 10.
Number of e-tail stocks selling between $1 and $3: 17. Add those two
totals together, and you get nearly half of the companies in this
sector. Number of e-tail stocks up for the year: 1. And that's eBay,
which, technically, really isn't an e-tailer.

FINANCIAL SERVICES

9/27 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap

WITC Wit Soundview 9.88 0.69 7.5% 7.9% -40.2% 893.9
ECMV E Com Ventures 1.00 -0.03 -3.0% -20.0% -69.5% 9.9
EELN E-LOAN 3.44 -0.13 -3.5% N/A -78.2% 181.8
NXCD NextCard 8.94 -0.38 -4.0% 9.2% -68.1% 474.2
NTBK [email protected] 11.38 -0.75 -6.2% -1.1% -36.7% 337.5
DIR DLJdirect 6.31 -0.44 -6.5% -27.3% -52.1% 648.0
AMTD Ameritrade 16.94 -1.44 -7.8% -8.6% -19.6% 3.0B
TREE LendingTree 5.00 -0.63 -11.1% -1.2% N/A 90.1
WEBS Web Street 2.19 -0.31 -12.5% -14.6% -81.8% 56.4
LINE onlinetrading.com 4.19 -0.69 -14.1% -16.2% -60.3% 48.1
EGRP E*TRADE 16.00 -2.88 -15.2% -11.1% -36.9% 4.8B

MDCM Mortgage.com 0.94 -0.19 -16.7% -6.2% -83.4% 41.6
DVIN divine Interventur 4.00 -1.00 -20.0% -52.9% N/A 549.8
CMGI CMGI 26.63 -9.81 -26.9% -41.9% -80.2% 7.9B
ICGE Internet Capital 15.78 -8.09 -33.9% -56.2% -90.4% 4.4B
----------------------------------------------------------------------
Financial Services Ave. -11.6%

Wit Soundview Group gets a flicker of a gain after announcing
it has expanded its strategic alliance with E*Trade Group. Every
other stock in this group falls this week. Internet Capital Group,
which seemed to have a good idea last year when it announced it
would specialize in funding B2B e-commerce start-ups, continues to
hit new lows. ICGE is down more than 90% this year. Close behind
is CMGI, which beat estimates with its Q4 earnings report last
week, but still had a deep net loss.

E-COMMERCE ENABLERS

9/27 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap

CKCM Click Commerce 41.50 11.69 39.2% 45.0% N/A 1.6B
IMNY I-Many 21.25 5.50 34.9% 73.5% N/A 679.4
PRTS PartsBase.com 3.44 0.44 14.6% -6.8% N/A 48.4
PPRO PurchasePro.com 82.44 9.31 12.7% 39.3% -38.2% 2.7B
CMRC Commerce One 75.94 5.25 7.4% 20.1% -20.4% 12.3B
DGIN Digital Insight 31.25 2.13 7.3% 20.8% -11.5% 902.9
WEBM webMethods 108.00 6.75 6.7% 11.0% N/A 5.0B
CLIC Calico Commerce 6.25 0.38 6.4% -35.5% -87.9% 219.3
BTBC b2bstores.com 1.88 0.06 3.4% -6.3% N/A 16.2
QSFT Quest Software 61.50 1.75 2.9% 20.3% 24.2% 5.3B
SLTC Selectica 40.13 1.00 2.6% -11.9% N/A 1.4B
EPAY Bottomline 37.00 0.75 2.1% 22.8% 5.9% 402.1
CORI Corillian 9.88 0.13 1.3% 24.4% N/A 315.3
USIT U.S. Interactive 2.69 0.03 1.2% -68.8% -93.6% 69.7
NETP Net Perceptions 12.88 0.13 1.0% 1.5% -68.4% 343.9
AGIL Agile Software 81.81 0.75 0.9% 17.4% -22.4% 3.8B
QUOT Quotesmith.com 2.00 0.00 0.0% -5.9% -81.9% 38.5
NVDC Navidec 6.72 -0.03 -0.5% -17.9% -42.3% 74.0
EPNY E.piphany 78.50 -0.88 -1.1% -18.2% -63.8% 3.5B
TANN Tanning Tech. 14.81 -0.19 -1.3% -19.4% -74.1% 311.8
PRVW Preview Systems 9.00 -0.13 -1.4% 4.0% -85.7% 154.1
RETK Retek 42.31 -0.69 -1.6% 24.5% -42.1% 2.0B
ARBA Ariba 152.06 -4.06 -2.6% -0.3% 76.6% 36.6B
CYSV Cysive 6.69 -0.19 -2.7% -21.3% -80.9% 187.1
ITWO i2 Technologies 180.75 -5.13 -2.8% 7.1% 90.9% 35.8B
STCS Software 23.00 -0.75 -3.2% 16.1% N/A 1.6B
ABTL Autobytel.com 4.28 -0.16 -3.5% -15.4% -71.0% 87.0
ITRA Intraware 8.38 -0.31 -3.6% -19.3% -89.2% 219.7
GSPT Global Sports 7.88 -0.31 -3.8% 2.0% -35.4% 170.9
DRIV Digital River 5.63 -0.38 -6.3% -19.6% -82.6% 123.2
FIRE FirePond 14.94 -1.06 -6.6% -25.8% N/A 531.2
IMPV ImproveNet 1.97 -0.16 -7.4% -1.6% N/A 32.9
OPUS Opus360 2.81 -0.25 -8.2% -30.8% N/A 141.2
ARTG Art Technology 88.00 -8.13 -8.5% -13.6% 41.5% 5.9B
ONVI Onvia.com 4.75 -0.50 -9.5% -28.3% N/A 383.5
PCOR pcOrder.com 4.09 -0.47 -10.3% -22.7% -91.7% 69.1
SNHK Sunhawk.com 14.75 -1.75 -10.6% -4.1% N/A 44.4
XCAR XCare.net 5.25 -0.63 -10.6% 2.4% N/A 85.3
PFSW PFSweb 2.09 -0.28 -11.8% -33.7% -94.2% 37.4
ORCC Online Resources 3.75 -0.56 -13.0% -38.1% -76.8% 43.5
ELCO

Elcom Int. 4.56 -0.69 -13.1% -20.6% -86.2% 140.2
BVSN BroadVision 27.56 -4.38 -13.7% -20.1% -49.9% 7.4B
NEOF Neoforma.com 3.94 -0.63 -13.7% 29.9% N/A 499.6
FAIM FairMarket 3.06 -0.50 -14.0% -24.6% N/A 86.7
ROWE Rowecom 4.00 -0.66 -14.1% -38.8% -90.9% 49.6
CYBS CyberSource 9.63 -2.06 -17.6% 0.6% -80.8% 250.3
OMKT Open Market 5.41 -1.31 -19.5% -43.1% -87.7% 251.9
HCOM HomeCom 0.47 -0.12 -21.0% -42.3% -84.8% 4.2
BRNC Braun Consulting 15.13 -5.31 -26.0% -11.4% -78.2% 304.3
BBSW Broadbase Software 13.00 -4.94 -27.5% -40.9% -76.2% 617.7
CYCH CyberCash 3.16 -1.22 -27.9% -43.9% -64.9% 81.7
PRSW Persistence 9.97 -4.53 -31.2% -37.7% -54.4% 194.9
LQID Liquid Audio 4.25 -2.00 -32.0% -37.0% -83.3% 95.1
AWEB Autoweb.com 1.09 -0.72 -39.7% -37.5% -89.6% 32.3
INTW InterWorld 4.31 -7.19 -62.5% -77.4% -94.8% 125.8
----------------------------------------------------------------------
E-commerce Enablers Ave. -6.5%

Here's a sector with the best-performing and worst-performing of all
'Net stocks this week. Enterprise channel management software vendor
Click Commerce is the leader, though I'm not sure why. The last
significant announcement from CKCM came on Sept. 13, when the company,
which has focused exclusively on private trading exchanges, said it
would enter the public exchange market. And shares went don't after
that. CKCM has been a volatile stock since going public on June 27,
closing at $17.63. Trailing all 'Net stocks is InterWorld, which
went into freefall after warning that Q3 losses would be from
35 to 43 cents per share, drastically more than street estimates of
18 cents. Don't be surprised if, as in the case of Allaire, there
are shareholder lawsuits, valid or not.

SECURITY

9/27 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap

NETE Netegrity 66.75 10.88 19.5% 17.8% 81.1% 2.0B
WGRD WatchGuard 54.19 7.06 15.0% 8.5% 84.5% 1.3B
AXNT AXENT 21.38 0.81 4.0% -10.0% 4.8% 618.5
ENTU Entrust 24.63 -0.88 -3.4% -7.3% -57.7% 1.5B
NSSI Network-1 5.33 -0.23 -4.2% -22.5% -49.2% 33.3
LTNX Litronic 4.38 -0.25 -5.4% -18.6% -43.7% 43.2
RSAS RSA Security 42.19 -4.81 -10.2% -27.6% -43.9% 1.7B
CHKP Check Point 143.81 -16.44 -10.3% 0.8% 198.1% 22.1B
VONE V-ONE 2.50 -0.31 -11.1% -13.0% -56.2% 55.3
PILT Pilot Network 9.88 -1.25 -11.2% -29.5% -57.6% 148.9
ISSX Internet Security 65.69 -11.56 -15.0% -17.1% -4.9% 2.8B
ITRU InterTrust 11.94 -3.38 -22.0% -27.1% -79.1% 1.0B
VLCT ValiCert 18.31 -5.94 -24.5% 43.6% N/A 405.6
CYLK Cylink 8.84 -4.09 -31.6% -36.0% -32.3% 272.7
--------------------------------------------------------------------
Security Ave. -7.9%

They tend to get overshadowed by fellow sector member and firewall
market leader Check Point Software Technologies, which is the No. 2
Internet stock this year with a 198% gain, but Netegrity and
WatchGuard also are among the elite 'Net tickers through nearly
three quarters of trading. NETE and WGRD are among only 11 Internet
stocks to advance at least 80% this year. Netegrity specializes
in portal security and management software, while WatchGuard makes
plug-and-play Internet security appliances. Cylink dodges a bullet
from the SEC, which ended an investigation of charges that CYLK
executives had knowingly overstated earnings in three previous
quarters. The company wasn't so luck with investors

, who slammed
the stock on Wednesday (though shares bounced back to $11.25 on
Thursday).

PERFORMANCE SOFTWARE

9/27 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap

NTGX net.Genesis 8.81 2.44 38.2% 3.3% N/A 186.4
OTGS OTG Software 39.50 10.50 36.2% 55.3% N/A 1.0B
DTEC Delano Tech. 15.00 3.25 27.7% 45.4% N/A 452.1
SSSW SilverStream 31.19 6.69 27.3% -0.6% -73.0% 638.9
SWCM Software.com 191.06 31.38 19.6% 41.5% 105.0% 9.2B
TIBX Tibco Software 89.25 12.25 15.9% -9.7% 80.3% 16.9B
WBSN Websense 21.88 2.25 11.5% 15.5% N/A 427.1
WAVO WAVO 0.75 0.06 9.1% N/A -80.1% 33.2
CLRN Clarent 39.00 2.13 5.8% -20.2% -48.3% 1.3B
WEBT WebTrends 37.00 2.00 5.7% -6.3% -5.9% 969.3
SABA Saba Software 26.13 0.75 3.0% -8.7% N/A 1.1B
EMBT Embarcadero 42.75 1.13 2.7% 2.9% N/A 1.1B
SPRT Support.com 29.00 0.75 2.7% -10.8% N/A 975.1
TMNT Telemate.Net 2.50 0.06 2.6% 2.5% -84.2% 19.7
VATA Versata 26.06 0.56 2.2% 24.9% N/A 1.1B
EXTN Extensity 21.00 0.31 1.5% -9.7% N/A 501.0
IWOV Interwoven 109.38 1.25 1.2% 13.9% 85.3% 5.4B
RDWR Radware 28.38 0.25 0.9% -13.9% -32.2% 439.0
GTHR GetThere 17.69 0.06 0.4% 1.8% -54.7% 621.1
PASW PASW 2.50 0.00 0.0% -37.0% -54.7% 11.3
LBRT Liberate 28.50 -0.19 -0.7% 0.7% -77.2% 2.9B
COBT Cobalt Networks 57.69 -0.63 -1.1% 21.4% -45.2% 1.7B
MNDO Mind C.T.I. 13.38 -0.44 -3.2% 33.8% N/A 269.1
MONE MatrixOne 34.00 -1.25 -3.5% 9.7% N/A 1.4B
VIAD Viador 8.81 -0.38 -4.1% -10.8% -78.6% 156.9
CTRA Centra Software 6.75 -0.50 -6.9% -32.5% N/A 163.1
RWAV Rogue Wave 5.25 -0.44 -7.7% -24.3% -32.4% 57.2
FVCX FVC.com 5.09 -0.47 -8.4% -29.7% -55.1% 87.9
CWLD CrossWorlds 20.50 -2.00 -8.9% -6.3% N/A 531.8
NESY NEON Systems 11.75 -1.25 -9.6% -32.6% -69.2% 110.9
LOUD Loudeye 7.56 -0.81 -9.7% -30.1% N/A 279.9
SGNT Sagent Tech. 7.44 -0.81 -9.8% -31.6% -74.4% 212.5
OTEX Open Text 20.56 -2.44 -10.6% -20.1% 17.7% 416.0
NSPK NetSpeak 10.44 -1.34 -11.4% -9.2% -49.4% 148.0
RHAT Red Hat 17.81 -2.31 -11.5% -30.0% -82.6% 2.8B
DGV Digital Lava 4.75 -0.63 -11.7% -26.2% -30.1% 34.2
NTOP Net2Phone 22.75 -3.14 -12.1% -21.6% -49.0% 1.3B
EVLV Evolve Software 21.75 -3.13 -12.6% 12.3% N/A 795.1
RNWK RealNetworks 36.25 -5.25 -12.7% -26.5% -37.9% 5.7B
VIGN Vignette 27.00 -4.19 -13.4% -20.6% -48.8% 6.3B
VMDC VantageMed 1.13 -0.25 -18.2% -33.4% N/A 9.7
PKSI Primus Knowledge 16.75 -3.75 -18.3% -30.9% -61.9% 300.1
VOCL VocalTec 9.75 -2.19 -18.3% -37.6% -40.0% 118.1
ALLR Allaire 8.06 -1.88 -18.9% -77.2% -88.6% 219.7
BLSW Bluestone 16.56 -3.88 -19.0% -25.6% -85.2% 344.1
IMAN iManage 7.88 -2.06 -20.8% -25.9% -74.8% 183.3
PRSF Portal Software 35.81 -9.44 -20.9% -29.6% -28.3% 5.8B
SVCW ServiceWare 7.25 -2.00 -21.6% -6.5% N/A 170.7
SONE S1 Corp. 11.31 -3.31 -22.6% -34.9% -85.1% 624.5
BLUE Blue Martini 30.13 -9.69 -24.3% -43.7% N/A 2.1B
BWEB BackWeb 10.25 -3.50 -25.5% -46.8% -74.9% 384.9
AVSR Avistar 5.88 -2.63 -30.9% -47.2% N/A 148.1
IPIX Internet Pictures 5.13 -2.75 -34.9% -31.1% -68.1% 309.3
SQSW Sequoia Software 6.06 -4.50

-42.6% -44.6% N/A 186.2
EPRS Eprise 7.88 -6.38 -44.7% -49.8% N/A 198.0
--------------------------------------------------------------------
Performance Software Ave. -6.1%

How can a sector with four stocks on the list of top 10 gainers
still drop more than 6%? Because it had even more big losers, with
10 stocks here tumbling at least 20%, led by Eprise, the Web content
management software maker. EPRS shares have been in a slow decline
since late July, when the company announced strong earnings growth
but widening losses in the second quarter. Sequoia Software, a
seller of XML-based e-business products, neared its all-time low
closing price of $6 per share on Wednesday before bouncing up to
$7.06 on Thursday. Since going public on Feb. 29, Web customer
analysis software and services provider has fallen 84% from its
first-day close, even with this week's sector-topping surge.

INTERNET SERVICES

9/27 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap

WQNI WorldQuest 4.75 1.00 26.7% -6.2% N/A 30.3
MDLI MedicaLogic 4.63 0.13 2.8% -27.8% -77.3% 255.5
LIOX Lionbridge 8.63 0.19 2.2% -6.8% -51.3% 235.6
CTCH CommTouch 20.75 0.38 1.8% 0.9% -56.0% 316.7
SKIL SkillSoft 18.63 0.13 0.7% 12.0% N/A 246.8
VRSN VeriSign 194.44 0.44 0.2% 0.4% 4.9% 37.8B
IPRT iPrint.com 3.50 0.00 0.0% 1.8% N/A 104.9
SAPE Sapient 41.25 -0.81 -1.9% -11.4% -39.7% 4.9B
FUSN Fusion Networks 1.13 -0.03 -2.7% -2.7% N/A 41.7
KEYN Keynote Systems 24.31 -0.75 -3.0% -19.0% -66.0% 673.0
ITXC ITXC 14.31 -0.81 -5.4% -32.0% -56.2% 551.5
MAIL Mail.com 5.38 -0.38 -6.5% -14.9% -70.5% 321.2
ECRU E-Cruiter.com 3.38 -0.25 -6.9% -5.3% -51.2% 26.0
CONV Convergent 3.63 -0.31 -7.9% -9.4% -76.5% 107.2
ILND Interland 7.41 -0.66 -8.1% 1.3% N/A 345.9
WEBX WebEx 31.88 -2.88 -8.3% -20.2% N/A 1.2B
CAVN Cavion 4.13 -0.38 -8.3% -10.8% -45.2% 20.5
VCNT Vicinity 11.00 -1.00 -8.3% 2.9% N/A 308.9
LFMN Lifeminders 22.69 -2.31 -9.3% -15.8% -59.5% 541.1
DIGX Digex Inc. 54.75 -5.63 -9.3% -36.4% -18.0% 3.5B
RCOM Register.com 7.69 -0.81 -9.6% -40.3% N/A 245.9
EQIX Equinix 9.34 -1.03 -9.9% -34.1% N/A 689.3
SVVS Savvis 7.69 -0.88 -10.2% -14.6% N/A 714.6
WNET WHEREVER.net 2.56 -0.31 -10.9% -17.2% N/A 63.4
CLAI Claimsnet.com 3.28 -0.41 -11.0% -25.0% -66.2% 30.2
USIX USinternetworking 6.50 -0.81 -11.1% -37.0% -85.6% 629.6
CRIO Corio 8.81 -1.22 -12.1% -32.9% N/A 427.3
EGRT Egreetings 1.03 -0.16 -13.2% -8.4% -89.5% 36.5
ACRU Accrue Software 13.94 -2.31 -14.2% -33.6% -73.5% 407.6
CPTH Critical Path 61.81 -10.25 -14.2% -20.5% -32.5% 3.9B
HLTH WebMD 11.25 -1.94 -14.7% -35.3% -69.1% 2.5B
EXDS Exodus 53.25 -9.25 -14.8% -21.5% 23.5% 22.2B
CRFH Crayfish 3.50 -0.63 -15.2% -36.4% N/A 178.1
HOTJ HotJobs.com 13.88 -2.50 -15.3% -27.5% -67.3% 501.5
NETZ Netzee 4.00 -0.88 -17.9% -27.3% -75.2% 88.1
CHRD Chordiant Software 8.50 -1.88 -18.1% -32.7% N/A 312.9
MRBA Marimba 11.94 -2.69 -18.4% -29.3% -73.3% 279.7
IBAS iBasis 14.81 -3.42 -18.8% -32.7% -46.9% 504.9
HHNT HeadHunter.NET 4.81 -1.13 -18.9% -20.2% -60.5% 89.5
LPSN LivePerson 4.69 -1.19 -20.2% -30.5% N/A 138.1
INIT Interliant 9.00 -2.56 -22.2% -28.4

% -64.3% 430.5
NTWO N2H2 2.06 -0.63 -23.3% -28.2% -91.0% 46.4
STMP Stamps.com 4.09 -1.28 -23.8% -28.0% -89.9% 201.0
EGAN eGain 7.25 -2.50 -25.6% -37.0% -80.2% 214.6
EVOK Evoke 5.88 -2.03 -25.7% -43.7% N/A 274.9
NAVI NaviSite 27.88 -9.81 -26.0% -40.4% -42.6% 1.6B
KANA Kana 22.00 -7.88 -26.4% -43.0% -77.9% 2.1B
DRTN Data Return 16.00 -6.38 -28.5% -17.2% -69.2% 568.9
SRCH US SEARCH.com 1.03 -0.47 -31.2% -38.9% -85.8% 18.8
BWAY Breakaway Sol. 6.88 -3.63 -34.5% -57.2% -80.6% 309.5
--------------------------------------------------------------------
Internet Services Ave. -12.2%

Internet telephony player WorldQuest Networks leads this sector only
because shares bounced off a new closing low of $3.75 on Sept. 20.
Even with this week's gain, WQNI continues to glide in the $4-$5
range, where it has been for most of the past three months. Down,
down, down drifts Breakaway Solutions, as it breaks the $10 barrier
this week and seems headed for $5. BWAY shares have fallen in 10
of the past 13 trading sessions through Thursday. Two weeks ago,
Lehman Bros. cut its 12-month price target for BWAY to $25 from $40.

ADVERTISING/MARKETING

9/27 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap

APLN @plan.inc 8.75 1.50 20.7% 45.8% -8.7% 99.0
BFRE Be Free 4.50 0.25 5.9% -23.4% -87.1% 293.4
NTRT NetRatings 16.94 0.75 4.6% -5.9% -63.7% 550.2
CSAV coolsavings.com 2.75 0.06 2.3% -17.0% N/A 107.5
NTCR NetCreations 9.88 -0.25 -2.5% -48.4% -76.9% 153.0
HPOL Harris Interactive 4.50 -0.13 -2.7% 11.6% -64.5% 145.3
LNTY L90 7.81 -0.56 -6.7% 5.0% N/A 174.7
CBLT Cobalt Group 4.00 -0.38 -8.6% -24.7% -56.1% 70.7
DIGI Digital Impact 6.81 -0.94 -12.1% -33.5% -86.0% 168.9
PRME Prime Response 4.31 -0.69 -13.8% -28.1% N/A 89.1
DCLK DoubleClick 33.88 -6.38 -15.8% -19.5% -72.4% 4.2B
MPLX Mediaplex 4.25 -0.81 -16.0% -60.2% -93.0% 143.0
FSHP FreeShop.com 4.13 -0.88 -17.5% 1.5% -91.1% 64.7
ENGA Engage 6.63 -1.44 -17.8% -48.5% -77.3% 1.2B
TFSM 24/7 Media 9.31 -2.50 -21.2% -36.3% -82.9% 331.5
NCNT Netcentives 6.16 -1.84 -23.0% -34.8% -89.8% 262.3
MYPT MyPoints.com 5.31 -1.88 -26.1% -57.9% -92.6% 156.1
VCLK ValueClick 7.00 -2.56 -26.8% -41.7% N/A 196.1
AVEA Avenue A 5.25 -2.41 -31.4% -35.9% N/A 304.9
----------------------------------------------------------------------
Advertising/Marketing Ave. -11.0%

Online research company @plan.inc climbs on news that ad-services
market leader DoubleClick will acquire it for $120 million. DoubleClick
hopes to increase revenue and move more rapidly toward profitability
by offering customers data for planning marketing campaigns. Another
good week and APLN could be the only stock in this group to post a
YTD gain. DCLK, meanwhile gets a "strong buy" reiteration from
Credit Suisse First Boston, which lauds the APLN purchase. Avenue A
and ValueClick pay for Q3 revenue warnings.

CONSULTANTS/DESIGNERS

9/27 7-Day 7-Day 1-Month YTD Market
Company $Close Change %Change %Change Cap

PRFT Perficient 13.81 1.81 15.1% 6.3% 11.6% 83.9
CVGP Convergent Group 4.69 0.50 11.9% -3.5% N/A 203.5
DTAS Digitas 17.50 0.00 0.0% 20.7% N/A 1.0B
GENI GenesisIntermedia 15.06 -0.19 -1.2% 0.4% 166.9% 97.3

PECS PEC Solutions 5.00 -0.13 -2.4% -27.9% N/A 111.4
IIXL iXL Enterprises 4.25 -0.16 -3.5% -60.9% -92.1% 321.7
PXCM Proxicom 19.75 -0.75 -3.7% -12.7% -67.3% 1.1B
OGNC Organic 4.56 -0.19 -3.9% -38.7% N/A 401.3
INFT Inforte 38.63 -1.69 -4.2% 3.0% N/A 479.0
ACOM AGENCY.COM 15.38 -1.44 -8.6% -37.4% -68.9% 547.4
SCNT Scient 22.38 -3.38 -13.1% -26.8% -73.3% 1.6B
VIAN Viant 5.38 -1.00 -15.7% -62.9% -88.8% 257.7
IISX Integrated Info. 4.63 -0.88 -15.9% -33.9% N/A 94.7
XPDR Xpedior 3.59 -1.09 -23.3% -67.3% -87.1% 181.6
MRCH marchFIRST 14.13 -4.31 -23.4% -31.3% -72.9% 2.1B
MSPR Mainspring 6.38 -2.13 -25.0% -36.3% N/A 119.9
RAZF Razorfish 8.63 -3.50 -28.9% -32.4% -81.3% 819.4
LNTE Lante 4.31 -2.06 -32.4% -51.7% N/A 170.4
MMPT Modem Media 3.78 -1.97 -34.2% -63.8% -88.9% 92.7
LUMT Luminant Worldwide 3.06 -2.25 -42.4% -61.1% -93.1% 83.0
----------------------------------------------------------------------
Consultants/Designers Ave. -12.7%

A couple of months ago I got an irate e-mail from a reader who said
I had "brazenly" lumped Luminant Worldwide in with other stocks that
have lost 90% or so this year and that I didn't think were going to
recover. Today I will brazenly note that LUMT has warned that, instead
of posting a Q3 profit, it will lose money due to lower expected
revenue. Oh, and CEO Gil Marmol has brazenly resigned to "pursue other
independent business ventures." Perficient floats to the head of the
sector on a rally based on, well, nothing.

SPEED/BANDWIDTH

9/27 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap

RSNT Resonate 38.44 8.25 27.3% N/A N/A 1.0B
CFLO CacheFlow 155.50 23.50 17.8% 48.1% 22.6% 6.2B
NENG Network Engines 37.75 1.38 3.8% 7.7% N/A 1.3B
JNPR Juniper Networks 225.00 4.94 2.2% 10.4% 309.0% 71.0B
BRCM Broadcom 247.75 5.38 2.2% 3.9% 87.4% 55.0B
SCMR Sycamore Networks 107.00 1.50 1.4% -23.3% 7.3% 26.2B
RDWR Radware 28.38 0.25 0.9% -13.9% -32.2% 439.0
TUTS Tut Systems 74.88 0.50 0.7% -35.2% 43.8% 1.2B
COVD Covad Group 13.44 -0.88 -6.1% -16.7% -62.9% 2.1B
INKT Inktomi 120.75 -8.13 -6.3% -4.2% 40.1% 13.8B
INAP InterNAP Network 27.50 -2.44 -8.1% -16.7% -67.3% 4.0B
CSCO Cisco Systems 57.31 -5.81 -9.2% -13.9% 10.2% 402.6B
AVCI Avici Systems 101.56 -10.50 -9.4% -24.5% N/A 4.9B
ATON Alteon WebSystems 108.81 -14.75 -11.9% -25.4% 27.7% 4.7B
WGAT WorldGate 21.19 -3.00 -12.4% 13.8% -54.1% 459.1
ATHM At Home 13.31 -2.06 -13.4% -9.0% -68.0% 5.4B
SONS Sonus Networks 122.25 -19.75 -13.9% -26.1% N/A 7.5B
HSAC High Speed Access 3.63 -0.69 -15.9% -34.1% -78.8% 201.9
AKAM Akamai 50.50 -10.13 -16.7% -30.3% -84.1% 5.4B
CAIS CAIS Internet 5.41 -1.28 -19.2% -33.5% -84.3% 124.9
PKTR Packeteer 38.00 -9.50 -20.0% -22.6% -44.9% 1.0B
FFIV F5 Networks 34.31 -8.63 -20.1% -35.0% -69.0% 738.2
IBEM iBEAM Broadcasting 7.16 -2.28 -24.2% -28.4% N/A 775.2
TERN Terayon Systems 31.81 -11.69 -26.9% -39.8% 4.3% 2.0B
RAMP Ramp Networks 3.50 -1.34 -27.7% -31.7% -76.4% 75.8
----------------------------------------------------------------------
Speed/Bandwidth Ave. -8.2%

A batch of customer wins propels Internet services management provider
R

esonate to the top of the pack, gaining 16% on Tuesday alone. Caching
appliance vendor CacheFlow gets a big boost after Credit Suisse ups
its 12-month price target for CFLO to $195 from $120. CacheFlow leads
the sector over the past month with a 48% advance. Small-office
router supplier Ramp Networks was named one of the 50 fastest-growing
tech companies in Silicon Valley by Deloitte & Touche. This week it's
the fastest-falling stock in the Speed/Bandwidth sector.

ISPs/ACCESS PROVIDERS

9/27 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap

HANA Hanaro Telecom 4.25 0.31 7.9% -18.1% N/A 1.1B
IDTC IDT Corp. 37.13 0.19 0.5% -7.8% 102.6% 1.4B
TRRA Terra Networks 36.38 -0.38 -1.0% -4.6% -31.6% 10.0B
VOYN Voyager.net 5.50 -0.13 -2.2% -20.0% -38.3% 174.1
IIJI Internet/Japan 38.50 -1.13 -2.8% 1.1% -59.2% 1.7B
QSCG QS Communications 16.25 -0.50 -3.0% -13.3% N/A 828.4
ELNK EarthLink 9.75 -0.44 -4.3% -15.2% -76.4% 1.2B
GIGM GigaMedia 8.13 -0.50 -5.8% -24.9% N/A 396.7
IGLD Internet Gold 5.50 -0.38 -6.4% -2.2% -74.5% 101.4
FREE Freeserve 36.00 -3.13 -8.0% -1.7% -59.7% 3.6B
TLCT Telocity Delaware 3.13 -0.31 -9.1% -40.5% N/A 265.2
IAWK Iasiaworks 9.50 -1.33 -12.3% -5.6% N/A 373.3
ZIPL Ziplink 3.25 -0.50 -13.3% -40.9% -73.2% 42.2
ATHY AppliedTheory 6.06 -1.00 -14.2% -20.2% -77.5% 150.5
JWEB Juno Online 4.50 -0.75 -14.3% -26.5% -86.9% 174.9
VNWI VIA NET.WORKS 8.56 -1.44 -14.4% -39.4% N/A 511.0
BIZZ Biznessonline.com 2.19 -0.38 -14.6% -21.3% -67.8% 20.7
NZRO NetZero 2.75 -0.50 -15.4% -32.3% -89.5% 288.3
PSIX PSINet 8.97 -1.66 -15.6% -50.0% -70.1% 1.7B
ISLD Digital Island 19.00 -3.81 -16.7% -37.3% -79.4% 1.3B
PCNTF Pacific Internet 10.50 -2.25 -17.6% -20.0% -77.0% 132.8
NPLI Netpliance 2.00 -0.44 -17.9% -61.9% N/A 120.9
KOREA Korea Thrunet 5.63 -1.25 -18.2% -24.4% -91.5% 404.8
IZAP ZapME! 1.63 -0.38 -18.8% -36.6% -80.6% 73.4
RMII RMI.Net 1.52 -0.36 -19.2% -34.5% -81.2% 33.2
LOAX Log On America 2.41 -0.59 -19.8% -30.0% -87.8% 21.2
FSST FASTNET 2.00 -0.50 -20.0% -1.5% N/A 30.0
PNVN PNV 1.00 -0.25 -20.0% -36.0% -87.4% 15.9
GEEK Internet America 2.84 -0.72 -20.2% -24.2% -75.2% 27.6
PRGY Prodigy 6.25 -1.75 -21.9% -20.6% -66.8% 436.6
DSLN DSL.net 3.44 -1.00 -22.5% -48.3% -75.5% 226.4
DDDC Deltathree.com 4.13 -1.63 -28.3% -35.9% -83.5% 118.9
---------------------------------------------------------------------
ISP/Access Provider Ave. -12.8%

IDT has been one of this year's top 'Net stocks, more than doubling
in price since Dec. 31. It barely moves this week, but the company
announced the creation of "TV.TV," a new business unit that plans to
deliver high-quality entertainment and broadband television to users
worldwide. The neutral platform is designed to allow access through
cable-modems, DSL, digital cable set top boxes or wireless services.
Only one company - Internet Initiative Japan - is up for the month,
and that gain is a miniscule 1.1%.

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