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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (15151)	1/24/1998 8:54:00 PM
From: Johnny Canuck	Respond to of 68241

Robert, I am seeing pretty much what you have noted. For the most part I have noticed that a slightly bullish attitude exists in the market.The effects of missing numbers seems confined to individual stocks not sectors. The other stocks in the sector go down only temporarily. I think this is reflecting the mixed earnings we are seeing in all the sectors. Not all companies have been affected equally this quarter by Asia. Some companies have not been affected by Asia at all while other have or will be in a big way. People seem willing to accept beating the consensus earning number as long as the forward earnings statements still indicate growth ahead even though the year over year quarterly and in some cases yearly results have been revised down. Earning season always distorts the price action on stocks. The real sentiment of the market won't be seen till earning season ends. Harry