Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Voltaire who wrote (5125)	10/2/2000 11:10:41 PM
From: T L Comiskey	Respond to of 65232

Monday October 2, 9:41 pm Eastern Time Tokyo Stocks Edge Higher TOKYO (AP) -- Tokyo stocks edged higher early Tuesday after a closely watched government survey of business confidence showed improvement in the July-Sept. quarter. The dollar was higher against the yen. The benchmark 225-issue Nikkei Stock Average gained 30.83 points, or 0.19 percent, to 15,933.34 points in the first 30 minutes of trading. On Monday, the average closed up 155.25 points, or 0.99 percent. The dollar bought 108.64 yen, up 0.30 yen from late Monday in Tokyo but lower than its late New York level of 108.84 yen. On the stock market, the Nikkei index rose after the Bank of Japan's ``tankan'' survey of business confidence improved to plus 10 in the July-Sept. quarter from plus three in the April-June period. The positive figure was another sign that Japan's economy is rebounding from a decade-long slump. Despite the gain, the Nikkei index's advance was limited because the Nasdaq composite index fell 103.92 points to close at 3,568.90 in New York on Monday. Investors there are worried about the outlook for corporate profits after Apple Computer and Intel (NasdaqNM:INTC - news) recently announced that earnings may be lower than expected. Also in New York, the Dow Jones industrial average rose 49.21 points to 10,700.13 at Monday's close. The broader Tokyo Stock Price Index of all issues listed on the first section was up 4.07 points, or 0.27 percent, to 1,495.75 points. The TOPIX closed up 20.90 points, or 1.42 percent, the day before. In other currencies, the euro was traded at 95.20 yen, down from 95.70 yen late Monday in Tokyo. The yield on the benchmark 10-year Japanese government bond was unquoted in early trading. On Monday, it settled at 1.8350 percent and its price stood at 100.55. ^------=

To: Voltaire who wrote (5125)	10/3/2000 3:13:10 AM
From: limtex	Respond to of 65232

Vol - Have the houses been all that good at protecting their interests this year up to now? How's this quote from STC for a laugh:- Technicians will be watching to see if the market can find support at these levels or will break down through here and head to the 3100-3200 range reached in late May. If the market closes in on 3521, it's bullish if it finds support there or above, and bearish if it drops toward the late May levels. Support levels are generally defined as a spot when people can be expected to buy into the market. Doesn't this say if it stops going down its bullish but if it continues to go down its bearish? How does one acquire wisdom like this? Vol lets face it it doesn't look good and with INTC and MSFT leading the slump there is no longer an papetite for stocks and thats that. Good run for a few years but there was a time when a P/E of 20 was high and all that is happening is that we are returning there. Still great companies with great earnings but when good earnings don't move the market and it starts selling off on earnings then thats the end and it has been selling off on earnings since April. NAZ daily average drop has increased to over 100pts a day now and at this rate we are heading for sub 3,000 very quickly. Portfolios are being halved and there is no appetite for stocks. What was good in the last five years no longer holds true. Great while it lasted. Won't be long before the houses start reducing costs and laying off staff. Best, L