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Technology Stocks : Softbank Group Corp -- Ignore unavailable to you. Want to Upgrade?

To: Edwin S. Fujinaka who wrote (5068)	5/2/2000 2:48:00 AM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 6018

Interesting comment on seasonal factors for investing: "...Sell and Take a Holiday Sell in May and go away. It is not just a curious piece of traders' lore, it's an excellent idea. Two good men of Amsterdam have proved it. Sven Bouman of Aegon Asset Management and Ben Jacobsen of the University of Amsterdam studied 37 stock markets and found that practically all of the returns in practically all of the markets are made from November to April. Many of the Japanese shares I follow are at critical chart points, which is to say that if they do not move meaningfully higher from here, they have a good chance of moving meaningfully lower. So I checked to see what the Sell-in-May rule suggested. The omens are not good. In every one of the last ten years, one did well to sell the Nikkei just ahead of Golden Week (the first week of May, with a series of market-closing holidays). The average drop in the index from then to the low point over the next few months was about 20%; the best performance was last year, with only an 8% drop, and for the worst one must reach back to a 34% fall in 1990. No drop overnight, however. In the penultimate session before the holidays begin, Japanese markets rocked. The Nikkei put on 2.4%, and not a single one of the stocks I follow fell. Technology was very much in the lead. Hitachi (NYSE:HIT - news) and Toshiba (OTC:TOSBF - news) gained 7.7% each, Mitsubishi Electric (OTC:MIELY - news) 6.9%, NEC (Nasdaq:NIPNY - news) and NTT DoCoMo 5.2% each, DDI 4%, Matsushita (NYSE:MC - news) 3.2%, and Sony (NYSE:SNE - news) and NTT (NYSE:NTT - news) lagged the index but still rose a bit. The dot-com world refuses to lose further. Hikari Tsushin made it two strong days in a row, up 11% after falling its daily limit for most of the previous month, and Softbank (OTC:SFTBF - news) also gained 7.5%." David H. Smith is managing director of Grayling Management. Grayling manages hedge funds and private accounts, and performs customized research for institutional clients. Smith specializes in Asian and emerging market equities. His column analyzes global economic and corporate events that happened overnight, and tells investors how those events affect their portfolios. Smith has clients with positions in ING, KPN, Hitachi and NEC. Go to www.worldlyinvestor.com to see all of our latest stories.