Daily Blast: Andy Serwer on the Market

May 22, 2000 -- — Six days in a row, baby.

That's my Nasdaq. The tech rally continued today for the sixth day, albeit in more muted tones. Still, it's nice tohave some upward momentum. Blue chips were nowheresville, though.

But I was actually amazed by the strength of some of thebig techs. Microsoft was up $1.50 to $70. Cisco up another 60 cents to $23. Ciena up$3.50. Hey, did you see that Peabody Energy Corp., thecoal company, went public today? Huge IPO, (ticker BTU) was up $8.75 to$36.75.

Hard to believe how the world has changed. A coal company IPOrules. Can you imagine if they tried to do that 18 months ago? Now youcouldn't do an Internet IPO if you tried. Also, Target was awinner too, after hitting its numbers. What a success story that is.Financials lookin' good, while Merck was weak, no doubt because of thatstory bashing Vioxx (its arthritis drug) in The New York Times. As for the numbers, the Dowclimbed 80 to 11257, while the Naz was up 8 to 2313.

Keep cool. See you on Good Morning America! I'll be talking about the wild and wacky ways companies cut costs.

Andrew E. Serwer is editor at large for Fortune magazine, where he originated and writes for the "Street Life" column. He also has appeared on CNBC, CNNfn, Voice of America and PBS, and has published articles in Time, Sports Illustrated and SLAM. For more, go to “Street Life” on Fortune.com.