Philip Morris - A Stock For Wealth Or Poverty (MO) Message Board

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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)

MO 65.91

+2.4%

3:59 PM EST

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To: Ralph Bergmann who wrote (2199)	8/27/1998 4:20:00 PM
From: Rarebird	Read Replies (2) of 6439

Ralph, the " Smart Money " has been selling in the States. We are in a Bear Market here. Money Managers and Pension funds have been selling like crazy at every opportunity. The next major leg down here will hit the large caps very hard. There is some strong support here at Dow 7800 and S&P 980. We should get a Bear Market Rally to the 200 day moving average and then head lower to about Dow 7000. The Bull here has been dead since July 21. Confirmation came from the Advance Decline Line at the beginning of August ( declines beat advances 2 to 1 over a two week period ). The Dow Transports gave a sell signal a few weeks ago. Today we broke down on every index to new lows. There are 1000 new lows today on the NYSE. This is a global economy. Deflation is spreading like wild fire. Asia to Latin America to Canada to Russia- maybe now Germany, given all the money they have lent to Russia. I don't think MO will break down here due to the dividend and steady earnings growth. But God forbid settlement talks break down. In this environment, people will sell first before they think. Short Sellers are making a fortune.

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