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Politics : Idea Of The Day

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To: Mark who wrote (14951)	11/25/1997 7:16:00 PM
From: Greg Jung	Read Replies (1) of 50167

Mark, I was timed out while composing my response, sorry this is late. Basically the point about Fri after TG, if the market has a positive spin this will be a rally day for retail investors, and IBM is their favorite, but it really doesn't support a price too high so next monday it will be taken down. I think latest up move is buying in advance of the "thanksgiving effect" - no more, no less - otherwise the price action of the stocks I might buy look rather dangerous. I am a little gunshy because I've stuck my neck in a margin guillotine and can only use whats left for "sure" quick trades. Intermediate term I don't know where IBM will be - they could come out and estimate an earnings shortfall - but it is as solid as anything despite the widespread lukewarm opinion of it. The "expanding PE" hypothesis will be on hold for a while but the very low interest rates allow them to do their financial games to boost the bottom line. Greg

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