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Technology Stocks : Compaq
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To: Captain Jack who wrote (69017)10/17/1999 2:16:00 PM
From: Nouveau_Riche  Read Replies (1) of 97611
 
It's interesting to note that on Friday night good old Lou on Wallstreet Week commented that if tobacco and autos are excluded from the PPI numbers the core increase would only have been .1%, and the Wallstreet Journal reported on Saturday that it would have been .3% with the two excluded.

Lou said the increase in tobacco prices is a reaction to the cost of tobacco settlements and the increase in autos was do to early Yr 2000 model introductions.

Either number is well below economists expectations of a .4% increase and indicates that the reported number does not tell the true story of a robust, low inflation economy.

I believe that Fridays market was a knee jerk reaction to the PPI numbers as a result of Alan Greenspan's careless comments the night before these very important numbers were to be announced.

Hopefully investors have had a chance to analyze the numbers over the weekend and we will see opportunistic buying on Monday.
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