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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.89

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Dec 3 4:00 PM EST

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To: miklosh who wrote (29440)	10/13/1999 5:49:00 PM
From: dclapp	Read Replies (5) of 99985

to "keep your eye on the ball," first, you have to determine what the "ball" is. CNBC just trumpeted Apple's "beating estimates" and the giddy woman at Instinet was beside herself with excitement. What happened? Apple sales in the fourth quarter were $1.3 billion. A year ago they were $1.6 billion. They earned 51 cents a share. Last year they earned 68 cents for the quarter. A year ago, Apple sold for about $40/share. Today, Apple is about $65 (more, now, after hours). This silly game of "beat the estimate" should be seen for what it is, by anyone seriously trying to determine the "direction" of a stock or a market. Companies like Intel that can't even win a rigged game deserve any punishment the market metes out. Ya gotta like Apple at these prices, right? <g> doug

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