BEARS, BULLS DEBATE EFFECT OF NETSCAPE ON MARKET'S FUTURE.(BUSINESS)

Byline: PATRICIA LAMIELL Associated Press

NEW YORK Is the stock market's glass half-full or half-empty? Netscape Communications' spectacular initial public offering this past week was used to argue both sides of the question.

Bears brandished the deal as a sign that the market has become too speculative, while the bulls said it confirmed that the sky is the limit for technology issues, a proven market leader.

``The feeding frenzy, such as we saw in Netscape, has in the past been one of those classic signals that a correction of some importance is close,'' said James Solloway, research director at Argus Research.

But he added, ``I could …