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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: TATRADER who wrote (559)	1/11/1998 1:56:00 PM
From: Dale Baker	Read Replies (1) \| Respond to of 18691

Mark, would you play an HST pattern just before earnings with a major tech company like INTC? No position here, just curious.

To: TATRADER who wrote (559)	1/11/1998 1:59:00 PM
From: Rick Slemmer	Respond to of 18691

Thread: This from briefing.com's website.... Asia's deepening debt crisis, a steady stream of earnings warnings, the upcoming barrage of earnings reports and deteriorating technicals led to widespread selling on Friday... The volume imbalance (down volume outlegged up volume by nearly 8 to 1) and the Nasdaq's move back below 1500 suggest that additional selling is ahead for the already battered tech sector... Chip industry to set the tone for the week, as Motorola, Intel, Advanced Micro, Lattice, Linear and Chips & Technologies among the companies due to release their quarterly results... Market will be paying very close attention to INTC's report due to recent speculation that company might exceed estimates by as much as $0.15... We think this is pie in the sky stuff, but street is desperate for good news... If Intel disappoints the street or makes overly cautious comments regarding future prospects due to Asian contagion group will lead a sector wide retreat... Investors also want to look for news concerning capital spending plans... We suspect a number of companies to join Atmel in trimming back their budgets, which of course is bad news for the chip equipment makers. Friday's sell-off only exacerbated the market's fragile state... Now is not the time to step back in as momentum is decidedly bearish... Wait for a clear buy signal... You may not catch the bottom but you will significantly reduce the risk of getting caught in a bull trap. Also see Peter C. Du Bois' column in Barrons for an overview of the interdependent Hong Kong/US markets-and-interest-rates correlation. Can't wait to see what Asia does tonight. RS