---------------------- Forwarded by Sara Shackleton/HOU/ECT on 05/17/99 11:55 
AM ---------------------------
   
	Enron Capital & Trade Resources Corp.
	
	From:  advising@smartportfolio.com                           05/14/99 04:30 PM
	

To: chrism@smartportfolio.com
cc:  (bcc: Sara Shackleton/HOU/ECT)
Subject: The SmartPortfolio.Com Update



The following free market news and commentary is brought to you by
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Market News

Equity markets were lower across the board amid fears of higher
inflation today.  The U.S.  Department of Labor reported that April's
Consumer Price Index (CPI) was up .7%, its largest gain since October
of 1990.  That news led to a market sell-off, with the Dow Jones
Industrial Average closing down 193.87 (-1.75%) to 10913.32, the S&P
500 falling 29.76 (-2.18%) to 1337.8, and the Nasdaq dropping 54.14
(-2.10%) to 2527.86.  The 30 year bond was up .17 to 5.911.

Financial stocks were hit hard today.  JP Morgan (NYSE:JPM) slid 5
13/16 to 140 15/16, American Express (NYSE:AXP) dropped 4 to 120 3/4,
and Citigroup (NYSE:C) fell 2 7/16 to 71.  Tech bellwethers were also
lower, with America Online (NYSE:AOL) down 6 3/4 to 125 7/8 and Intel
Corp.  (Nasdaq:INTC) down 2 1/16 to 58.

AtHome (Nasdaq:ATHM) withstood the market slide and closed up 13/16 to
150 1/8 and was as high as 156 1/2 Friday.  The Wall Street Journal
reported that Microsoft (Nasdaq:MSFT) will contribute about $5 million
to AtHome Solutions, a private venture that helps smaller cable
companies bring internet access to their users.  Microsoft lost 2 1/4
and closed at 76 7/8.

Go2Net (Nasdaq:GNET) was up 2 1/8 to 127 3/16 after announcing that it
will purchase IQC.com, an equity tracking service, for $20 million in
stock.  Go2Net said that it plans to integrate IQC's content into its
Silicon Investor web site.

Oracle (Nasdaq:ORCL) was up 3.8% (up 7/8) to 23 7/8 after the company
reassured analysts at a meeting yesterday; Prudential Securities
upgraded the database company from accumulate to strong buy.

Dell Computer (Nasdaq:DELL) slid 4.77% (down 2 1/16) to 41 3/16 after
Paine Webber downgraded the direct computer maker to neutral from
attractive.  Dell reports earnings next Tuesday after the closing
bell; the First Call consensus estimate is 16 cents per share.

Motorola (NYSE:MOT) fell 3.07% (down 2 5/8) to 82 7/8 even after an
upgrade from BT Alex.  Brown from buy to strong buy, along with a
12-month price target of $100.

ING Baring initiated coverage on Micron Technology (NYSE:MU) with a
hold rating, saying that manufacturing costs may not decline quickly
enough to keep pace with declining DRAM prices.  Micron was off 5/8 to
36 15/16.

On the data networking front, shares of 3Com (Nasdaq:COMS) were up
7.29% (up 1 15/16) to 28 1/2 on speculation that the company may be
purchased by either Lucent Technologies (NYSE:LU) or Ericsson
(Nasdaq:ERICY).  Lucent was off 2 9/16 to 58 7/16; Ericsson was off 1
3/16 to 26 7/8.  3Com's competitor Cisco Systems (Nasdaq:CSCO) fell 2
1/4 to 115 7/16.

Global Crossing (Nasdaq:GBLX) was up 2.29% (up 1 3/8) to 61 3/8 after
CNBC's David Faber broke a story that the company may combine, in a
merger of equals, with regional bell US West (NYSE:USW), which closed
up 2 1/4 to 62 1/4.  Faber also reported that Frontier Corp.
(NYSE:FRO), a company that Global Crossing is in the process of
purchasing, is supportive of the merger.  Frontier closed down 4.67%
(down 2 3/4) to 56 1/8.

IPO News

Despite the heavy new issue supply and weak market conditions,
internet IPOs continue to outperform.  Investors continue to bid up
shares of well-known brand names, first movers, and any high-speed
internet related issues.  Both Nextcard (Nasdaq:NXCD), which offers
online credit cards, and Copper Mountain (Nasdaq:CMTN), which provides
high-speed internet connections, performed well on their first trading
days.  In contrast, Intelligent Life, which provides financial content
through its website Bankrate.com, failed to impress investors, closing
its first trading day unchanged from its offering price.  Apparently,
investors were not aware of Intelligent Life's internet business due
to the lack of media coverage or a ".com" in its name.

Issues Expected to Price Next Week

*5/18 - Interliant (Nasdaq:INIT) - Provider of a comprehensive suite
of hosting and enhanced Internet services.

5/18 - Nextera (Nasdaq:NXRA) - Provides information technology
consulting services primarily to Fortune 500 and other multinational
companies.

Rubio's Restaurants (Nasdaq:RUBO) - Operates 64 quick-service Mexican
restaurants in the Southwest.

*5/19 - CAIS Internet (Nasdaq:CAIS) - A tier one Internet Service
Provider, providing dedicated high-speed Internet connections to
commercial and residential customers primarily using digital
subscriber line technology and patented OverVoice technology.

*5/20 - eToys (Nasdaq:ETYS) - A web-based retailer focused exclusively
on children's products, including toys, video games, software, videos
and music.

*5/21 - IXLEnterprises  (Nasdaq:IIXL) - Provides Internet strategy
consulting and comprehensive Internet-based solutions to Fortune 1000
companies and other corporate users of information technology.

*5/21 - Tenfold (Nasdaq:TENF) - A software and services company that
builds and implements large-scale, complex applications rapidly and
for a fixed price.

5/21 - David's Bridals (NYSE:DBR) - Chain of bridal stores.

*5/21 - @plan - (Nasdaq:APLN) - Provider of market research decision
support and planning systems specifically designed for internet
advertisers, advertising agencies, and Web publishers.

5/21- Newgen Results Corp.  (Nasdaq:NWGN) - Provider of customized,
outsourced database management, direct marketing and related services
for the service departments of automobile dealerships and automobile
manufacturers.

Week of 17th - OpTel (Nasdaq:OTEL) - A leading network based provider
of integrated communications services, including local and long
distance telephone and cable television services, to residents of
multiple dwelling units in the United States.

New Issues Trading on Thursday and Friday

Alloy Online (Nasdaq:ALOY) - Priced at 15 on Thursday, opened at 18
3/8 on Friday, traded as high as 23 3/16 closing at 20, up 5 (33.33%).
An Internet destination providing community, content and commerce to
Generation Y, the 56 million boys and girls between the ages of 10 and
24.

Multi-Link Telecommunications (Nasdaq:MLNK) - Priced at 6 on Friday,
opened at 9 1/2 on Friday, traded as high as 9 3/4 closing at 8 3/8,
up 2 3/8 (39.58%).  Provides integrated voice and fax messaging
services for small and medium sized businesses.

Nextcard (Nasdaq:NXCD) - Priced at 20 on Thursday, opened at 36 on
Friday, traded as high as 40 3/4 closing at 33 1/2, up 13 1/2 (67.5%).
Internet-based provider of consumer credit.

Scient Corp.  (Nasdaq:SCNT) - Priced at 20 on Thursday, opened at 38
3/8 on Friday, traded as high as 41 7/16 closing at 32 5/8, up 12 5/8
(63.13%).  Provider of eBusiness services including strategy
consulting, customer experience design, systems architecture, and
application and technology infrastructure development.

Copper Mountain Networks (Nasdaq:CMTN) - Priced at 21 on Wednesday,
opened at 68 on Thursday, traded as high as 72 closing at 68 7/16, up
47 7/16 (225.89%).  Supplier of high-speed DSL-based communications
products for the broadband access market.

Intelligent Life (Nasdaq:ILIF) - Priced at 13 on Wednesday, opened at
15 on Thursday, traded as high as 15 closing at 13, unchanged on the
day.  Provider of independent, objective research regarding consumer
banking and credit products and a significant publisher of original
editorial content relating to personal finance matters through its
internet sites Bankrate.com, theWhiz.com, Consejero.com and CPNet.com
and in print through Bank Rate Monitor and Consumer Mortgage Guide

Dag Media (Nasdaq:DAGM) - Priced at 6 1/2 on Wednesday, opened at 7 on
Thursday, traded as high as 7 closing at 6 1/16, down 7/16 (6.73%).
Publisher and distributor of yellow page directories in print and on
the world wide web, with its largest directory, The Jewish Israeli
Yellow Pages, published bilingually, in English and Hebrew.
***********************************
Need questions answered about IPOs?  E-mail Marc Stockman at
ipo@smartportfolio.com.  Marc answers hundreds of e-mails a week and
will return your e-mail within 24 hours!

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