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Pastimes : Home on the range where the buffalo roam

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To: Boplicity who wrote (848)4/5/2000 2:44:00 PM
From: Boplicity  Read Replies (1) of 13572
 
14:29 ET Asset Allocation Changes : Charles Pradilla at SG Cowen is raising the stock weighting in his asset allocation by 5%, and reducing the bond weighting by 5%. This reflects the big rally in bonds, over 100 basis point decline and the correction in stocks. He would focus on technology; especially where there have been very large declines. The new asset allocation is stocks 60%, bonds 35% and cash 5%.

14:14 ET Genomics Movers : --Update-- Clinton comments on the patentability of gene technology has helped break group out of recent funk. Stocks running on the news include: MLNM +29 1/2... CRA +29 3/8... INCY +21 3/4... AFFX +21 5/8... PDLI +17 1/2.... GLGC +11... SQNM +11... GENE +6 1/2.

13:57 ET Greenspan : The Fed Chairman downplays the need for larger rate increases and denies that he's targetting stock prices. Most important comment is that he says the market is expecting gradual rate increases -- Greenspan typically doesn't comment on expectations unless he intends to validate them. The message is therefore that more rate hikes are on the way, but that they will continue to come in 25 bp increments.
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