While technology shares fell sharply early in the day after analysts said Compaq Computer had hinted of a coming earnings slowdown, many issues rebounded later.

They sold Intel and dozens of other technology companies on fears that an industrywide earnings slowdown loomed.

While an earnings slowdown may furrow some brows, it comes as no surprise.

The earnings slowdown comes as Hanson is trying to shed its image as a deal-driven company dependent on its founders.

One problem is what appears to be an earnings slowdown.

"In spite of the earnings slowdown," he said, "there hasn't been any sign of weakness in the market."

Yesterday, the game went to the lesser bulls, those who having made money this year, have recently become uneasy about inflation, earnings slowdowns and interest rates.

But Wall Street analysts are expecting an earnings slowdown this quarter, with the current forecast at a growth rate of 6.2 percent.

The reasons for the earnings slowdown from the 15 to 18 percent average rate from 1992 through 1995 run the gamut.

In recent weeks, a number of companies have warned of earnings slowdowns.