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Technology Stocks : Altaba Inc. (formerly Yahoo)
AABA 19.630.0%Nov 6 4:00 PM EST
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To: Bill Harmond who wrote (10810)5/12/1998 1:33:00 AM
From: Michael Collings  Read Replies (2) of 27307
 
>>Take a look at @Home's and IBM's charts and tell me the market is falling apart!<<

@Home is going to lead the market higher? Good God William! Why not the Biotechs while you are looking for stocks that can lead the market?

Try looking at Gillette, PG, MRK,PFE, MSFT, SLE, INTC and AUD (AUD is the ONLY stock in the market who has had consistent double digit earnings growth every quarter for 15 years!) The list goes on and on! IBM hasn't led the market for years!

Don't confuse merger mania which has had much Dow participation recently with the overall strength of the market or the traditional growth stocks. The divergence in the market is blatant. All you have to do is look at the Transports and Utilities. Breadth is horrible.

And short term the market is not oversold, in fact the 10 day moving average of the A/D is overbought.

I don't disagree with your take on Japan. The point was to address your contention that this market can't drop as long as mutual fund inflows are strong.

Bearishness in the bond market right now is due to the upcoming Fed meeting, but even more so because of this week's supply. The bid to cover on the Treasuries will be important this week. I am not bearish on bonds, however, there is some concern on the dollar's value relative to European currencies and may be the one caveat for the Fed.

There isn't a chance that I would risk hard worked for savings in a market that is at the mercy of impulsive speculators. Quite frankly everyone should look at their upside potential and compare it to their downside risk. What's the upside for this market 5%, 10%? What's the downside risk? 20% 30% 40% 50%???
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