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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.17

+0.2%

Dec 11 4:00 PM EST

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To: bobby beara who wrote (20878)	7/22/1999 11:40:00 PM
From: Berney	Read Replies (1) of 99985

bb, Now, I know you're not one to believe all that you read. In fact, one of the aspects of this market that concerns me is the extent to which corporate America has brought just in time finances into the mix. (well it worked for manufacturing didn't it?) In the 65 Big Boyz, 55 of them are non-financial companies. Of these, 15 had a current ratio of less than 1. That means that 27% of our largest companies were showing more current liabilities than current assets. I view this as unhealthy in a period of economic prosperity, as it means that future cash generated from operations already has a lien on it. As to the consumer stocks not hitting new highs, the stocks of all 5 of the consumer staple Big Boyz (G, KO, MO, PEP, and PG) are negative for year-to-date performance. The nine stocks in the health sector have also had a tough year. Berney

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