The poor weather that has battered the East Coast today also appeared to be stifling trading today.
TheStreet.com Internet Sector
index was down 19.54, or 1.73%, at 1108.23 in recent trading. Follow-through selling from yesterday's bloodbath drove the DOT to a low of 1107.50 early in the session, but the market righted itself as it has during any recent setbacks as traders saw bargains at the lower levels. The DOT reached a high of 1138.81 before sellers emerged again.
The back-and-forth trade has left many investors wondering how to play the market. Check out
strategy on how he traded
yesterday when the market was falling apart in an earlier
piece. After dropping around 24 points to a low of 228 yesterday, VerticalNet was up 4 27/32 today. Cramer also prepared a
checklist for what's needed to revive the Net sector.
Also of potential interest to Internet investors is
. The online grocer was recently down 1/4, or 1.7%, at 14 1/4.
Elsewhere in the sector, shares of
were down 1, or 4.3%, at 22 5/16 on news that the company plans to raise $500 million through the sale of convertible subordinated notes. Also,
was reporting that E*Trade was teaming with a Japanese telecommunications company to invest in privately held
, an optical-networking start-up. Terms were not disclosed.
Among the day's other big movers was
, down 9 7/8, or 8.8%, at 102 1/8 in what was most likely postearnings profit-taking. Inktomi rallied after reporting earnings on Jan. 20 and traded as high as 122 1/2 yesterday before profit-takers stepped in.
also was seeing profit-taking, down 12 5/8, or 5.4%, at 221 1/4.
fits into the same category. It was down 6 1/2, or 5.2%, at 119 1/2 after besting earnings expectations on the 20th.
were up 2 5/8, or 1.9%, at 138 13/16 in recent trading, though they traded as high as 145. The online auction site is expected to report earnings after the close today. It is expected to report a profit of 2 cents a share, according to
First Call/Thomson Financial