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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (14335)6/10/2000 7:47:00 PM
From: Justa Werkenstiff  Read Replies (1) of 15132
 
What does MCD, PG, T, EDS and MSFT have in common? You can buy them all roughly now for what you might have paid in the Fall of 1998 at the bottom. I find that interesting.

I am going to watch EDS next week. It finally opened and found the hammer of God on Friday. It traded 18m shares at went down 26%. It is about 40% off of its highs set earlier this year. From what I can tell, this is the second most shares it has traded since 1987. I could not believe it took them more than an hour to open this stock on the NYSE. And I also cannot believe that analysts were CLUELESS about the problems in EDS and were pumping it up to the day before the announcement. I want to watch this one next week for further selling.

I am also watching Circuit City which can't get out of its own way after announcing shrinking margins and slower appliance sales. This thing has gone down day after day since the announcement early last week. Again, the analysts were CLUELESS and were pumping this stock all the way up to the announcement.

What does this mean with respect ot the broader market? Analysts have pumped up earnings expectations to the moon and, as a result, the market has yet to discount what would happen to earnings when the economy slows. I don't want to be in the market once this process gets under way.

Rising interest rates and earnings misses on high P/E stocks? Tough environment for equities.

Look at the DOW folks. Check out a chart. Lower highs and in a downtrend. Justa's prediction of over a month ago is coming true. There is a rotation back to technology. Bingo-bango. Here they come.

And let's look at the brillance of the Brinker call. Check out the Naz as compared to the S & P and DOW since the May bottom. The Naz has beat the crap out of both. So he had the timing right and the sector right. Bingo-bango. Check out what happened to the DOW and S & P 500 last week. Can you say "down." The Naz? Up marginally. Rotation is the game.
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