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Non-Tech : Praxair - Industrial Gases NYSE:PX -- Ignore unavailable to you. Want to Upgrade?

To: Robin T. Miller who wrote (22)	11/21/1997 2:20:00 PM
From: Richard Mazzarella	Respond to of 56

Robin, thanks for posting. While Stearns downgraded, there was another house that upgraded PX the day before. I can see that some of the funds that were holding for a long time were trimming back. I suspect that they thought that the bear market was upon us. I still expect a run to all time highs with a blowoff before it's all over. The tech stocks are getting killed lately and I think that people are slowly returning to the "tried and true", overpriced or not. I still expect PX to form a right shoulder before turning down. Also, who knows what will happen. The Asian markets are crashing and people need a place to dump their 401k money. Japan had a market with a P/E of 60 before it all came down around their ears. PX with a P/E of 18 with most of its business in North and South America could do well. Time will tell.

To: Robin T. Miller who wrote (22)	12/11/1997 9:34:00 AM
From: Richard Mazzarella	Respond to of 56

Robin, in light of the Asian problems, I have pulled in my horns on PX. There was a warning from Praxair on the Asian issues in their announcement biz.yahoo.com . The 3rd world markets continue to suffer and may worsen. There are other concerns about Praxair at this time. They talked stock buy back, but now talk dilution to push debt around. I also believe that the CEO has completed his 5 year growth promise to receive his stock options.