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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: MR. PANAMA (I am a PLAYER) who wrote (44646)	9/26/1999 4:24:00 PM
From: Manly	Read Replies (3) \| Respond to of 122087

Mr. Panama, You crack me up - here's a good article to keep the longs happy????? I'm hoping stocks zoom forward so I can short more. Typically, I miss the short runs because of work, I wanted to have some positions prior to any decline we see. The DOW is vulnerable right now and with any sense of selling, there's going to be some huge downturns. I doubt we'll see any huge upswings just because of y2k plus typical fall selloff after earnings - this is going to get fun!!!!! Sunday September 26, 2:15 pm Eastern Time WALL ST WEEK AHEAD - Correctional drift persists By Amy Collins NEW YORK, Sept 26 (Reuters) - Unable to find a calm port of safety, analysts are expecting another down week on Wall Street amid concerns over the strong yen, higher interest rates and corporate profit warnings. Even the weekend meeting of the Group of Seven and its attention to cooling off the strengthening yen failed to encourage Wall Street analysts. ``We share Japan's concern about the potential impact of the yen's appreciation for the Japanese economy and the world economy,' said the G7 statement, issued Saturday. Analysts said the statement was too vague to muster strong confidence on Wall Street. ``Basically, I'm not sure how the markets are going to interpret this initially,' said Peter Cardillo, director of research at Westfalia Investments. ``It's somewhat dubious, because Japan in the past has taken less action than the United States really wanted.' The dollar has sunk below three-year lows against the yen as the Japanese economy recovers and money flows back into Asian stocks. The dollar was at 104 against the yen on Friday. The week ahead will see few corporate earnings reports, two speeches from always-cryptic Federal Reserve Chairman Alan Greenspan and the release of one of his favorite economic indicators, the National Association of Purchasing Managers manufacturing report for September. ``We're looking at scrambled eggs,' said Alan Ackerman, a senior vice president and market strategist at Fahnestock & Co. ``I think there's going to be somewhat of a buyers strike.' Wall Street was just stung by one of its worst weeks in history as it broke through the bottom of key support levels by midday Thursday. The Dow Jones industrial average (^DJI - news) lost 524.30 points for the week, its fifth straight weekly decline, and closed at 10,279.33. The Nasdaq composite index (^IXIC - news) closed 129.21 points lower for the week, at 2,740.41. The Standard & Poor 500 (^SPX - news) index closed 58.06 points lower, at 1,277.36. Declines in U.S. stocks have been blamed on a range of causes, including fear of rising interest rates, the strength of the yen against the dollar, corporate profit warnings, angst that stocks - especially in the technology sector - are overvalued and trepidation over just how low a new trading range might settle. Declining stocks have continued to outpace advancers. On Friday alone, 264 stocks set new lows while only 9 made new highs. ``The trends in the background are bearish,' said Stephen Shobin, a technical analyst at Lehman Brothers. ``The market's responding much more egregiously to bad news.' ``Fear of the Fed' will be on everyone's lips again as Wall Street hunkers down ahead of the Oct. 5 meeting of the Federal Reserve's policy-setting committee, which could vote to raise interest rates for a third time this year. Greenspan will deliver a speech entitled ``Lessons from Global Crisis' at the World Bank/International Monetary Fund annual meeting on Monday evening. On Thursday evening in Minneapolis, he will speak on ``Trade and Technology.' On Monday morning, Federal Reserve Governor Laurence Meyer and Federal Reserve Bank of New York president William McDonough will address the Institute of International Bankers. Elsewhere, Federal Reserve Bank of San Francisco President Robert Parry will speak on monetary policy. In addition to the speeches, analysts will watch the numbers. September consumer confidence figures will arrive on Tuesday, the August durable goods orders on Wednesday and August new home sales on Thursday. Along with the NAPM number, Friday will also see the release of August personal income and consumption figures. Only a handful of companies are expected to report earnings this week, according to First Call/Thomson Financial. Internet holding company CMGI Inc. (NasdaqNM:CMGI - news) and microchip maker Micron Technology Inc. (NYSE:MU - news) are expected to report Monday. Auto parts dealer AutoZone Inc. (NYSE:AZO - news), clothing retailer Nautica Enterprises Inc. (NasdaqNM:NAUT - news) and retailer Family Dollar Stores Inc. (NYSE:FDO - news) are set for Tuesday. Wednesday will see earnings from shoe seller Finish Line Inc. (NasdaqNM:FINL - news). On tap for Thursday is Marriott International Inc. (NYSE:MAR - news) and two supermarket companies: Safeway Inc. (NYSE:SWY - news) and Great Atlantic & Pacific Tea Co. (NYSE:GAP - news), the operator of A&P.