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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who started this subject	2/4/2002 10:21:28 PM
From: Joe Stocks	of 787

DE- Short? Couple news items today that I didn't see in the mainstream press. First Bush's budget calls for a cut back on overseas leading guarantees for foreign countries to buy equipment. This allows CAT, DE and other to sell on credit but not take the risk. The other item was that Moody's said this afternoon that they were reviewing DE for a downgrade on their paper. This could hurt DE's access to capital markets per Dow Jones newswire story. DE is near it's 52 week high although it's earning show a loss for 2001 and a projected pe for 02' earnings of 72. Growth rate is just about 10% Here is the chart: askresearch.com Not a bad looking chart- actually it's pretty good. I think at this point you must think that it will break out or head lower. With recent developments my bet it will head lower and I am watching for an entry. This came out Nov 21 in Business Week Online. >>Deere & Co. (NYSE:DE - news) was down after it posted $0.45 4Q loss vs. $0.30 EPS from operations on 5.8% decline in worldwide sales. Sees 1Q net sales down 3%-7%. Merrill expects fiscal year 2002 to be below consensus estimates. S&P keeps its hold rating on the stock. <<< Earnings come out FEB. 12th am. I would not be surprised to see them warn going forward. If the downgrade does come to pass it could get interesting. Volume today was high but stock closed nearer the lows but still ended up. CAT also had a nice bounce early but closed on it's low of the day. Just an idea to watch. Joe

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