It took all of a half-hour for the Internet sector to get going today. There were some mixed signals as to whether last week's enthusiasm would continue, but a couple of strong performances from some big names encouraged traders to buy, buy, buy. Lack of enthusiasm in the rest of tech was about the only thing holding back the Net sector.

TheStreet.com Internet Sector

index was up 41.74, or 3.4%, at 1262.84 in recent trading.

TheStreet.com New Tech 30 was up an astounding 113.51 points, or 14.5%, at 895.62. We'll give a plug here to our own

Dear Dagen McDowell

, who painstakingly provides details of

Merrill Lynch's

popular HOLDRs in her

column.

Take your pick on which of the industry's subsectors were on the move. Traditional Net bellwethers like

Yahoo!

(YHOO)

and

eBay

(EBAY) - Get Report

were soaring in conjunction with their appearances at the

Chase H&Q

plaNET.wall.street conference in Snowbird, Utah. Yahoo! was up 17 15/16, or 11%, at 175 15/16, while eBay was up 13 1/2, or 9%, at 163. However,

America Online

(AOL)

, which also was presenting at the conference, was down 2 3/8, or 4%, at 55 1/4.

But even hotter than bellwethers were the Internet incubators.

Internet Capital Group

(ICGE)

was up 26 13/16, or 22%, at 145 7/8 after it was upgraded by

Robertson Stephens

ahead of an investors' forum on Wednesday. In addition,

NetVendor

, a partner firm of ICGE, announced a plan to distribute automotive parts through the Internet with

CAM International

, an aftermarket auto-parts redistributor.

Other Net venture capital firms were riding on the coattails of ICGE.

CMGI

(CMGI)

was up 13 5/16, or 10%, at 147 3/8, while

Safeguard Scientifics

(SFE) - Get Report

was up 18 1/4, or 10%, at 194 3/4.

CMGI's

AltaVista

added to the competitive atmosphere in the U.K. today by offering Brits unlimited Web access for an upfront fee of less than $80, according to

Reuters

.

TheStreet Recommends

Freeserve

(FREE)

, which was up 31 points on Friday, was down 16 3/8, or 10%, today.

Meanwhile, there were any number of stocks that were moving after quiet periods on the companies expired. Our IPO expert

Ben Holmes

gave a

heads up on many of the stocks before the market opened today. Direction was often determined by just how strongly underwriters began coverage of the issues, and investors who bought ahead of the expiration were not guaranteed easy money.

Among Internet stocks,

buy.com

(BUYX)

was up 1 1/4, or 9.5%, at 14 7/16.

Merrill Lynch

began coverage of the online retailer with a medium and long-term buy rating and a 20 price target. Analyst

Henry Blodget

wrote that at 14, the stock was trading at two times estimated 2000 revenue of $850 million, which he indicated was "an attractive valuation relative to other industry leaders (though still expensive on a long-term

discounted cash flow)."

Also on the upside was

XCare.net

(XCAR)

, a B2B e-commerce service provider for the health care industry. It was up 3 7/16, or 18%, at 22 7/16 after Robertson Stephens initiated coverage of the stock with a buy rating and a 50 price target.

Internet services provider

Fastnet

(FSST)

was up 3 1/2, or 24%, at 18 after

FAC Equities

and

ING Baring Furman Selz

initiated coverage of the stock with strong buy ratings.

And

Vicinity

(VCNT)

was up 14 1/2, or 30%, at 63 1/4 after

Bear Stearns

initiated coverage of the Internet-based marketing firm with a buy rating and a 12-month to 18-month price target of 80.

Most troubling performance was

WebMethods

(WEBM)

, which traded as high as 294 1/2, but was recently down 30, or 11%, at 250. The stock received a less-than-stellar intermediate-term accumulate rating from Merrill. Long-term, Merrill placed a long-term buy on the provider of business-to-business services provider and a 12-month price target of 322. Note that the stock has had phenomenal success since debuting last month.

Also on the downside was

Organic

(OGNC)

, down 3 11/16, or 10%, at 32 5/16 after trading as high as 37 7/8.

Goldman Sachs

initiated coverage of the Internet professional services company with a market outperformer rating.