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
pointed out, money was pouring back into old and "cheaper" tech stocks such as
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
last night. Those expectations should keep money flowing into the sector into next month. And while there are increasing concerns that the
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
Among the hottest stocks was
, up 25 7/8, or 11%, at 256 1/4. The company introduced its
product today, which it says will speed delivery of online applications.
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
service that uses the question-and-answer service from Ask Jeeves. We tipped off readers to the deal back in
, 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.