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Strategies & Market Trends : The OEX... gasp!

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To: Stuart Briscoe who wrote (281)	1/6/1997 3:28:00 PM
From: Chris Baker	of 658

Stuart - Thanks to all and congrats on 18K in one week! (You might want to spend some on Molecular Dynamics (MDYN), which has been moving up very fast.) Below is Terry Bradford's public Market Commentary for this week discussing his rather ominous longer-term bearish outlook. From baresearch.com (a public page.) "January 06, 1997 (excerpt from the Cycle Watch Institutional Advisor) Market Commentary: Last week we suggested that a small decline was in order following the recent weak volume rally to overhead resistance. We were not anticipating the type of decline that eventually came about. And this week? We have very little doubt that this week will bring a move to new highs. We believe bulls have everything in their favor for the very near term. Bonds seem to have stabilized, technology issues are again firm and money managers are awash in cash. The only question at this juncture is the magnitude of those new highs... Groups to Watch: We should not have to tell you that our technical work is overwhelmingly bearish. For the first time in several months we are beginning to fear that a big decline is in the offing. Interest Sensitive issues are the most vulnerable. In fact, we now count Money Center Banks, Regional Banks, Insurance and Savings and Loans among our sell rated groups... Stocks to Watch: For the third consecutive week this week's list of attractive issues looks very much like the past week. Xerox (XRX) and DSC Communications (DIGI) are names that seem to keep coming up. We are very impressed with XRX. The stock is beginning to attract Wall Street interest again. DIGI is a turn around candidate. Motorola (MOT) is one of the names that many money mangers can feel very comfortable with.."

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