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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (22063)	12/22/1998 2:01:00 PM
From: James C. Mc Gowan	of 50167

Hi IKE; re: Corp/Treas Spreads-update from Moody's Dec 18 shows that lowest quality Corp and Industrial bonds have actually increased the spread with Treas and have surpassed the 12 month high e.g. Corp Baa rated spread is 223bp, previous 12 month high was 217 and November was 209. So Alan Greenspan has not moved the buying interest in junk bond yields, although higher rated Corp/Indusr. have improved somewhat from the year's lows. So, do we get a move in interest rates today from the Fed? Consensus is not now, but maybe February. Meanwhile JPN appears to be breaking down and I've decided to throw in the towel for now, taking a loss on JEQ The RUT is tantalizing us, chart appears to show it has touched the 402 level 4 or 5 times in the past 6 weeks, without breaking this O/H resistance; love to see it finally make a January small cap move to your targets. Any update on FHS; I bought this at 12 and sold shortly at 14 1/2(Thank you); put in a buy at support at 11 1/2 and see it appears to be breaking below 50/200 day MA now. This looks to be a short term pop for this HMO in week's past; are poor fundamentals now taking over or is this still a value play, as is still down substantially from 52 week highs? Thanks for keeping the thread updated on your SP Futures levels as these are most helpful for short term trading. Hope all is well in Paris Regards Vocex

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