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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (7207)	7/27/1999 9:43:00 AM
From: Wally Mastroly	Read Replies (1) \| Respond to of 15132

..and from Ralphy-boys Techtalk: prusec.com Outlook Some excerpts: >Intermediate Term The consolidation of the past several months technically sets the stage for a good rally when prices break above this prior zone of stabilization. Well, two weeks ago many market averages broke to the upside, ending this neutral price activity and initiating a new uptrend in most market averages. We took this opportunity to raise our 1999 Dow target from 11,500 to 12000/12300-this is our conservative objective. Our more aggressive upside potential for the DJIA is now 12500/13000. The real message is individual stocks-they look terrific. See the sections below for new buy ideas. Long-Term Our long-term outlook is the same as our intermediate term outlook-very positive. We did not raise our original target of 1525 for the S&P 500 last week. We will maintain this level for this average for awhile. <

To: Wally Mastroly who wrote (7207)	8/2/1999 10:00:00 AM
From: Wally Mastroly	Read Replies (1) \| Respond to of 15132

As the bond market continues dropping...Garzarelli update - 30 July 1999: garzarelli.com News of the higher than expected employment cost index came at a vulnerable time for the markets. It increased 1.1 percent in the second quarter -- however, it is important to keep in mind last quarter's increase of 0.4 percent was the smallest ever. On a year-over-year basis, employment costs were up 3.3 percent -- not too high based on the past two years. Also, real GDP was reported this week, growing at only a 2.3 percent rate in the second quarter. Final sales were stronger, at 3.2 percent, suggesting the third quarter could see a rebound as inventories are rebuilt. The bond market rose to 6.06 percent (30-year yield) due to continued fears of a Fed tightening. We do agree that the Fed is likely to raise rates at least one more time based on the CIBCR leading inflation index that shows the percentages of purchasing managers who reported higher buying prices (up from 52.2 percent to 53.5 percent) and longer delivery periods (up from 51.9 percent to 53.1 percent). We believe this (CIBCR index) is a key index for Greenspan (we highlight it each month in our newsletter). However, even with another rate hike, we believe the stock market, over the long term, will be OK as bond yields start their decline and earnings remain relatively good.