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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Big who wrote (69024)	11/1/1999 3:57:00 PM
From: SMALL FRY	Respond to of 120523

I got TRAC but it's not trading material... more like intermediate. I may have to keep it longer just to get satisfaction and to recoup the missed gains in SPYG... SF

To: Mr. Big who wrote (69024)	11/1/1999 3:59:00 PM
From: puborectalis	Read Replies (1) \| Respond to of 120523

We're in trouble now...Monday November 1, 3:29 pm Eastern Time Focus-Wall Street strategists bullish on stocks (New throughout; adds details from other strategists; updates stocks, indices) NEW YORK, Nov 1 (Reuters) - With the Nasdaq index in record territory and U.S. inflation data appearing benign, influential Wall Street strategists on Monday issued bullish forecasts for U.S. stocks. Morgan Stanley Dean Witter Chief U.S. Equity Strategist Byron Wien said he raised the stocks portion of his U.S. equities portfolio by 5 percentage points to 85 percent, and cut the cash part by 5 points to 15 percent. Morgan Stanley added stocks in the financial sector, including Bank of New York Co. Inc. (NYSE:BK - news); American International Group Inc. (NYSE:AIG - news); Mellon Financial Corp. (NYSE:MEL - news); Fannie Mae (NYSE:FNM - news) and Chubb Corp. (NYSE:CB - news). Bank of New York shares fell one to 40-7/8 on Monday; AIG eased 1-3/16 to 101-3/4; Mellon shares added 9/16 to 37-1/2; Fannie Mae dropped 1-7/16 to 69-5/9 and Chubb jumped 3/4 to 55-5/8, all on the New York Stock Exchange. Financial stocks rallied last week after indicators like the closely watched Employment Cost Index suggested there would be no more interest rate hikes in the near term. Growth stocks rallied, helping the technology-laden Nasdaq (^IXIC - news) composite index hit a record high of 2,966.43 on Friday. In midafternoon on Monday, it added nearly eight to 2974. The Dow Jones industrials average shed 55 to 10,674. Joseph Battipaglia, chairman of investment policy at Gruntal & Co., said Monday the firm raised its year-end target for the Nasdaq index to 3,100 from 2,900. ``I believe that the market will continue to rally through the end of the year on strong earnings, absence of Federal Reserve action, and the passing of any lingering Y2K concerns,' Battipaglia said in a note. Morgan Stanley's U.S. Equity Strategist Peter Canelo said in a research note on Monday he raised the equity and bond allocations in the firm's U.S. Taxable Balanced Portfolio by 5 percent each, citing the constructive short-term view on U.S. bonds and moderating inflation fears. He said productivity remains strong, the U.S. dollar seemed to be stabilizing after recent softness and an interest rate hike by the Federal Reserve in November is largely factored into the market. Canelo also noted that earnings continue to support the market. Credit Suisse First Boston said Monday that Market Strategist Christine Callies raised her operating earnings estimates on companies in the S&P 500 index (^SPX - news) for 1999 and 2000. The estimate assesses the impact of economic data on total earnings of the companies in the index. Callies raised the estimate for 1999 total S&P 500 operating earnings to $49.79 from $48.03, and raised the estimate for 2000 to $54.27 from $51.39. In a research note, Callies cited strength in manufacturing indices, reflected by National Association of Purchasing Management (NAPM) data, and the buoyancy of raw material prices for the estimate change. Callies, however, said technology will not be the only winning sector. She said the firm has been emphasizing nontechnology areas of the S&P 500 because it does not think technology will be the only sector to outperform. Concerns about the depressed valuations for consumer cyclical and capital goods shares should be outweighed by what may be the longest economic expansion on record. Recent earnings reports are another reason to invest outside the technology sector, Callies said, noting a number of positive surprises in the consumer cyclical and health care sectors.