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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Cathedra who wrote (25526)	9/10/1999 7:52:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 99985

Tom, this is correct...also note that earnings warnings and misses are becoming more frequent lately. in essence, more and more stocks are simply getting killed due to bad earnings news, while the stocks that show the biggest one day gains are often pushed up for what seem spurious reasons. a recent run in IBM began to gather pace as the company announced it's intention to raise an additional $10 bn. in debt...apparently the conclusion was that additional stock buy-backs are to be expected. before the announcement, IBM had total debts of approximately $30 bn. so it is now good news when a company raises it's level of debt by such an amount when interest rates are comparatively high, purely on the notion it might buy back more of it's already inflated stock...it was in fact deemed to be worth a jump of almost $9 bn. in the company's market cap on the day of the announcement. IBM insiders are meanwhile selling...