Morning David.. ALTR, CS, WDC all negociating lower levels. These aren't small players. Its significant to me that worries from this past fall are showing up in pr and analyst statements, knocking down some of the recovery these stocks have made. We used to play IBM with a statement that went something like ".. IBM tops in the last stages of a bull run." After IBM collapsed, before Gerstner took over, this quick rule of thumb became less significant, perhaps it will again be a truism. The reasons are obvious why this happens.
For 8000 to be topped with any conviction, I feel we need a bond break below 6%. Its the only way to rationalize a less optimistic profit projection in 1998 with lofty pe's. Call it cost of capital optimism.
Its interesting you said to have a note pad on hand. I run a minimal ram text editor in the background into which I put any stray thoughts, to do's and not to do's. It dosen't take up any system room, very handy and can boot from the startup file so its always there.
There's a nice Brazilian person at the counter of Dunkin Donuts, where I stop for an on the road cup of coffee each morning... as the weather has gotten colder and colder, he talks more and more about the wonderful beaches at home. I will either have to give up coffee soon or get a ticket south.
Jim |
