Bear Signs from the Wall Street Journal:
(1) The Japanese may stop buying bonds, thereby
pushing up interest rates. Foreign governments,
especially the Japanese, buy 75% of all bonds.
(2) Producer Price Index up .4% due primarily to rising
energy prices, which, of course, affects everything,
thus, increasing inflation.
(3) Rumors are flying that IBM will soon issue earnings
warnings. IBM wouldn't comment on the rumors. If this
does happen, expect the rest of the computer stocks to
tumble with it.
(4) Survey of fund managers shows that there is
unease about the stocks' lofty levels, and uncertainty
about the prognosis. |
