March 3, 2000

Yesterday action was a little tricky, very volatile.  Stocks breaking higher, then reversing and vice versa.  Perhaps in anticipation of employment numbers.

Employment number is out this morning, much better then expected.   Bonds up 15/32, S+P up 13 and NASDAQ 68 points.

COMS- very weak at end of the day, but didn't short the stock.   Usually the 2nd day after an IPO gap up.  May be good short later, but would wait for stock to roll over.

Cannot get too aggressive to the up side later in the afternoon, if you see that DOW and NASDAQ going in the opposite directions.  Would be more confident on long site, if both markets and bonds are strong together.

AMZN, YHOO, RMBS, ADBE- all very weak.  Yesterday would have been good shorts, if they gap higher and start to roll over.

ARBA, INSP, EXDS- announced 2-1 splits.

GBLX- got new chairman.  Stock very volatile yesterday afternoon.  Rumors still on takeover, have to be more cautious.

PIS- upgraded.

IBM- 2 billion of orders out of Japan, last few months.

Secondary- MTSN, NTSN 42 1/2.  MEDX 172.  NANO 38 1/2.   NMSS 53 1/2.  ROIA 70.

COMS- Morgan Stanley upgraded.

HLTH- beat earnings, stock going down.  Could be good short later in the day.

Have a great weekend.