Weakness in Treasuries Tempers Enthusiasm for Net Stocks

But expectations of strong fourth-quarter results should keep money flowing into the sector.
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Shakiness in the Internet sector over the past two sessions, along with ongoing weakness in Treasuries, has led to a lack of conviction in today's rally.

TheStreet.com Internet Sector

index was recently up 17.98, or 1.6%, at 1112.88 after trading as high as 1129.73. Weakness in Treasuries, which have steadily

deteriorated, has tempered enthusiasm in the sector. And as our own

James Cramer

pointed out, money was pouring back into old and "cheaper" tech stocks such as

Intel

(INTC) - Get Report

and

Microsoft

(MSFT) - Get Report

.

The market is dealing with a confluence of factors. First, there are expectations of strong fourth-quarter numbers in the tech sector, particularly after this week's solid quarterly reports from both

Oracle

(ORCL) - Get Report

on

Tuesday and

CMGI

(CMGI)

last night. Those expectations should keep money flowing into the sector into next month. And while there are increasing concerns that the

Federal Reserve

will tighten monetary policy in February, that would come after most of the quarterly reports are released.

But there was still strength in the new Net and among Cramer's

Red Hots and

B2B plays.

Among the hottest stocks was

Akamai

(AKAM) - Get Report

, up 25 7/8, or 11%, at 256 1/4. The company introduced its

EdgeAdvantage

product today, which it says will speed delivery of online applications.

Ask Jeeves

(ASKJ)

was up 7 13/16, or 7%, at 125. Gains have come in response to today's announcement from Microsoft that it had introduced its

Ask Maxwell

service that uses the question-and-answer service from Ask Jeeves. We tipped off readers to the deal back in

October.

Finally,

Tibco Software

(TIBX)

, another hot B2B play, was up 8 9/16, or 6%, at 149 7/8. It is expected to report its results after the close today. According to

First Call/Thomson Financial

, Tibco is expected to report a loss of 3 cents a share for its fourth quarter.