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Technology Stocks : Stock Swap
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To: Barbara Barry who wrote (9508)11/9/1997 8:42:00 AM
From: Patrick Slevin  Read Replies (1) of 17305
 
I agree, no matter what comes out of Fast Track the market

should work lower. If the news is good then it will gap open and selloff....if bad, just selloff. The only thing I can imagine changing this scenario is war.

Another point that should be made is the interconnectivity of global problems with respect to the fact that so many US companies are multi-nationals. An impact on earnings of multi-nationals would quickly run down the food chain. For example, the market was 8300 in early August and the earnings were "X". Perhaps the earnings are still about "X" so Joe and Josephine Investor are buying.

But if the multi-nationals get earnings cuts then the relationship of the price (in August vs September) to the earnings may not make these purchases look so hot shortly.
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