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Pastimes : Ask Mohan about the Market

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To: Bonnie Bear who wrote (9364)11/25/1997 4:22:00 PM
From: Cynic 2005  Read Replies (6) of 18056
 
To all: Breadth update: Today new-lows outweighed new-highs about 17 to 10 (170 to 106) - as of 3 PM.

More breadth stats:
16:17 S&P 500 ADDS 0.4% WHILE RUSSELL 2000 FALLS 0.2%.
16:13 NASDAQ UP 0.1% WITH 18 WINNERS VS 25 LOSERS.
16:10 DECLINERS OUTPACE ADVANCERS ON NASDAQ BY 25 TO 19.
16:10 ADVANCERS MARGINALLY OUTPACE DECLINERS ON BIG BOARD BY 15 TO 14.
16:09 DOW INDUSTRIAL ADDS 0.5%, TRANSPORT INDEX UP 0.4%, UTILITIES UP 1.2%.

Other stats:
16:17 S&P 500 ADDS 0.4% WHILE RUSSELL 2000 FALLS 0.2%.
16:17 30-YEAR U.S. TREASURY BOND YIELD DOWN 3.2 BASIS POINTS TO 6.045%.
16:16 GOLD INDEX FALLS 2.2%; DEC CONTRACT OFF 1.1% TO $300.50/OUNCE.
16:15 DOLLAR CLOSES DOWN 0.01 TO 1.67 AGAINST GERMAN MARK.
16:15 DOLLAR CLOSES UP 0.4 TO 127.25 AGAINST JAPANESE YEN.
16:14 PSE TECH INDEX ADDS 0.7%, NETWORKERS UP 0.6% AND CHIPMAKERS UP 0.6%.
16:09 DOW INDUSTRIAL ADDS 0.5%, TRANSPORT INDEX UP 0.4%, UTILITIES UP 1.2%.
16:09 NEARLY 577 MILLION SHARES CHANGE HANDS ON BIG BOARD.

The new highs on NYSE:
A C M GOVT INCM FD INC
ALBERTSONS INC ........grocery/food
ALLTEL CORP DEL........utility
AMERICAN ELEC PWR CO INC........utility
ATLANTIC ENERGY INC N J........utility
BALTIMORE G & E CO........utility
BELLSOUTH CORP........utility
BLACK HILLS CORP
C C B FINANCIAL CORP
C M S ENERGY CORP........utility
C P C INTL INC ....... food
CALIFORNIA WATER SVC CO........utility
CENTRAL HUDSON G & E CORP
CENTRAL MAINE POWER CO........utility
CENTRAL VT PUB SVC CORP........utility
CENTURY TEL ENTPR INC........utility
CILCORP INC
CONNECTICUT ENERGY CORP........utility
CONSOLIDATED EDISON CO........utility
D P L INC
DEAN FOODS INC .......food
DELTA AIR LINES INC
DEPOSIT GUARANTY CORP
DOLE FOOD CO INC ........grocery/food
DUKE POWER CO........utility
EASTERN UTILITIES ASSC........utility
EDISON INTERNATIONAL INC........utility
ENOVA CORP
F P L GROUP INC
FAIRFIELD COMMUNITIES INC........utility
FLORIDA PROGRESS CORP........utility
FUND AMER ENTRPRS HLDGS
G & L REALTY CORP
G P U INC
GRAY COMM SYS INC........utility
GREAT ATLANTIC & PAC TEA
HANCOCK JOHN INCM SEC TR
HANCOCK JOHN INVESTORS TR
HOUSTON INDUSTRIES INC
I E S INDUSTRIES INC
IDAHO POWER CO IDAHO........utility
INTERCAPITAL INCM SEC INC
INTERSTATE POWER CO
IPALCO ENTERPRISES INC
LA Z BOY INC
LONG ISLAND LIGHTING CO........utility
M C N CORP
MANOR CARE INC
MINNESOTA POWER & LT CO........utility
NABISCO HOLDINGS CL A......food
NEW YORK STATE E & G CORP........utility
NIPSCO INDUSTRIES INC
NORTHERN STES PWR CO MN........utility
NOVO NORDISK A S
O G E ENERGY CORP........utility
OFFICE DEPOT INC
ONEOK INC
ORANGE & ROCKLD UTIL INC
P G & E CORP HLDG CO
PHILADELPHIA SUBN CORP
PIEDMONT NAT GAS CO N C........utility
PIER 1 IMPORTS INC
PINNACLE WEST CAP CORP
PIONEER HI BRED INTL INC
PORTUGAL TELECOM........utility
PRIMARK CORP
PROTECTIVE LIFE CORP
PUBLIC SVC CO NEW MEXICO........utility
PUGET SOUND ENERGY INC........utility
RITE AID CORP
ROCHESTER G & E CORP
SARA LEE CORP........grocery/food
SECURITY CAPITAL INDL TR
SIERRA PACIFIC RESOURCES
SOUTHWEST AIRLINES CO
STERLING SOFTWARE INC
SYSCO CORP........grocery/food
TIMES MIRROR CO
TRANSCANADA PPLINE LTD ........utility
TRINET CORP REALTY TRUST
U S AIRWAYS GROUP INC
UNICOM CORP HOLDING CO
UNITED ILLUMINATING CO........utility ????
UTILICORP UNITED INC........utility ????
VAN KAMPEN AMER CAP BD FD
VULCAN MATERIALS CO
W I C O R INC
WESTCOAST ENERGY INC........utility
WRIGLEY WM JR CO........grocery/food

Despite the weak breadth, at the close, DOW up 41. Nasdaq 2 and S&P about 6.

Conclusion: THIS IS A BIG BULL-TRAP!! IMHO!!!!

-Mohan
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