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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: j g cordes who wrote (32923)	1/12/1998 4:09:00 PM
From: Riskmgmt	Read Replies (3) \| Respond to of 58727

Does this make sense, "Steel Stocks: Salomon Smith Barney upgrades One explaination may be that, like certain tech stocks, they are oversold. Also, could it be that the Asian mills may have financing problems, with all the fall out there. I don't follow steels but just some thoughts. Hey it's as good as the "moon" theory-no? <vbg> Ray

To: j g cordes who wrote (32923)	1/12/1998 4:13:00 PM
From: The Jedi	Read Replies (2) \| Respond to of 58727

I think that the raw materials for these got cheaper (Asian imports). Asian mills may be hungry but no or low credit (banks failing) means no or low volume. Plus this is the sign that the bull market is aging. Steels get to be leaders last in a bull market. We may already be in a bear market (start of bear markets can only be classified in hindsight) and this could extend till summer. But the good news is that from the summer lows to 1999 highs there should be at least 2500 run up in Dow points (presidential mid-term year theory). Kiri