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

To: Stephen who wrote (31701)10/28/1999 1:33:00 PM
From: michael r potter  Read Replies (2) | Respond to of 99985
 
Citigroup and American Express are bellweathers of this financial leadership group. Citi group has been up 8 out of the last 9 days since its $42 bottom. At that price it was trading at 12.9X '00 likely engs. [cheap]. My target for '00 is 20X engs. or around $65. [could over-shoot that by a few points]. Currently, it has already covered over 50% of '00 target in 9 days. Those funds caught bearish with to much cash, and piling on with high volume today are late to the party. Short term downside is limited by still left out buyers who will buy the dip, and I believe, short term upside is limited. This is a 12-15% engs grower. Despite short term overbought on many financials, this is more than a short term sector rotation IMO. Mike



To: Stephen who wrote (31701)10/28/1999 1:38:00 PM
From: Haim R. Branisteanu  Read Replies (1) | Respond to of 99985
 
Stephen, WSJ published yesterday the results of a think thank who analyzed the corruption in government in various countries.

To my surprise the US has not made even the top 5 countries.

I always wondered why the eagerness to join a government position with it's relative meager pay. Now I understand it better.

This may be an indication as to the honesty of this administration.

BWDIK
Haim


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