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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 691.88-0.3%Jan 30 4:00 PM EST
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To: Clint E. who wrote (19722)2/6/1999 5:05:00 AM
From: Johnny Canuck  Read Replies (3) of 70282
 
Hi Clint,

It sounding like you have had an amazingly profitable January.

On the ALA/MOT partnership, A big part of Motorola problems
on the infrastructure side has been the weakness in it
switching technology. This partnership should give it greater
creditability as ALA has more of a presence on the telecommunications
side. ALA comes from the 7 and 24 side of the business.I
assume the problems in Los Angeles still haunts MOT
on the sales side, so this should help.

While I agree we should bounce next week, I am not sure I share
your intermediate term optimism. I have the SPY, COMPX, Russell 2000
and the DJUA all generating sell signals. Only the DJTA and the DOW
30 seem to be holding up. I think we saw the money rotate out of
some of the high tech generals the last few days into the DOW
stocks. The weakness in the DJUA and the bonds worry me though.
They appear to be signalling a tightening by the Fed. With
earning season almost over the focus will shift to a Fed watch
and if the perception is that they will tighten, the direction
for stocks will be down.

From memory, while a good majority of stocks beat estimates I
don't think it was anything above normal. Estimates were reduced quite
a bit in the past few weeks too. I think I saw on the BRIEFING.COM
site that normally 55 percent of stocks beat estimates.

Have a good weekend.

Harry
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