TGL WHAAAAAAAT! Alerts, thoughts, discussion. Message Board

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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: Tom Allinder who wrote (71621)	11/18/2000 2:00:52 PM
From: Jim Bishop	of 150070

Market Update from Briefing.com Close Dow -26.16 at 10629, Nasdaq -4.67 at 3027, S&P -4.61 at 1367: The market took heart in early dealings that the overhanging uncertainty related to the election was finally drawing to a close... A court ruling at 10 ET stated that the Florida Secretary of state had acted appropriately in not accepting late filings from disputed counties... Both indices surged on the news but were unable to build on this move as the realization that the Gore camp will appeal brought sellers back into the fray... The Nasdaq subsequently dipped below the 3000 psychological barrier before stabilizing above this level into the close... The Dow was under more significant pressure for the majority of the day with JP Morgan (JPM -5 1/16), American Express (AXP -2 1/16), GE (-1 1/16), SBC Communication (SBC -2 1/16) and Merck (MRK -1 9/16) weighing on the proceedings... Despite the late improvement in both indices, further rulings on the election will be coming over the near term... Failure to have a resolution to this situation by Monday would certainly prove to be a disappointment to the market... Despite the headlines, press conferences and special reports on the election, the market has been on the defensive for the last several months and a completion of this process will not alter the fact that the economy is slowing as are earnings... Warnings thus far for Q4 have totaled 170 which is just 100 shy of the total for last year and we are still a month away from earnings warning season... While trading opportunities will exist, such as an election resolution rally, an improvement on the profit front or a move by the Fed, which does not meet until Dec 19, will be required to improve the underlying bias of the market... finance.yahoo.com

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