Technology and dot-com stocks looked liked an upstate New York minor league hockey game from 1967, back when chickenwire laced the boards and players wore sweaters instead of padding. Think bloody, bruised and battered, with few goals and lots of penalties.

Pretty cool, eh?

Ok, maybe not.

The

Nasdaq Composite Index, the Comp for the slang-inclined, was down 92.3 to 2279.8, not at session lows, but still down enough to keep with its weeklong "everything must go" theme. Since last Friday, the Comp has dropped about 280 points, led lower by a wide cross section of New Economy names. From semiconductors to dot-coms, the beatings have continued and morale still hasn't improved.

The

Philadelphia Stock Exchange Semiconductor Index

dropped 3.1%, led lower by

Altera

(ALTR) - Get Report

and

KLA-Tencor

(KLAC) - Get Report

. The

Morgan Stanley High-Tech 35

dropped 1.98%, led lower by

AOL

(AOL)

and

Yahoo!

(YHOO)

, which then combined to torpedo

TheStreet.com Internet Sector

, which was off 35.71 to 595.73. And if you just look at those widely help big-caps, then

Cisco

(CSCO) - Get Report

,

Amazon.com

(AMZN) - Get Report

and

Intel

(INTC) - Get Report

are losers.

Here's a bright spot. The

Philadelphia Stock Exchange Box Maker Index

was edging up 0.10%, led marginally higher by blue-chips

Hewlett-Packard

(HWP)

and

IBM

(IBM) - Get Report

.

Okay. Time for some news. Good news first.

Don't cry for

Dell

(DELL) - Get Report

, Steve Fortuna. The

Merrill Lynch

analyst kept his eyes dry and reiterated his buy rating and $36 price target, standing strong in the wake of Wednesday evening's earnings warning from the PC maker. Investors killed Dell in the wake of that

warning, dropping it 10.6% yesterday, sending it to 52-week lows. Dell was fractionally higher this afternoon to $25.25.

Other analysts weren't so nice, however.

AT&T

(T) - Get Report

fell $1.88 to $26.94 after

Solomon Smith Barney

analyst Jack Grubman downgraded it to outperform from buy and hacked its price target to $37 from $65. Fiscal 2000 earnings were cut as well. Grubman now expects 2000 earnings to come in at $1.65 per share from $1.73. Grubman also slashed the company's 2001estimate to $1.55 from $1.97 per share.