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

To: Oeconomicus who wrote (5259)	3/19/1998 2:23:00 PM
From: RealMuLan	Respond to of 18691

R.D. I am not sure whether you were talking about the earning estimates for S&P 500. If it is that, for the 1Q, now the revised growth rate is 1.8%, down from 10% and then revised 2%. Hope this helps.

To: Oeconomicus who wrote (5259)	3/19/1998 2:24:00 PM
From: Ploni	Respond to of 18691

He compared the downward revisions he is seeing to those of 1990 leading into the recession.... He did say, and I think I have this pretty much word-for-word, "the market is in denial about the earnings problem". Garbarelli, or whatever her name is, was on CNBC yesterday saying the market might fall 6% or so. I think she was a bear for years and missed the entire bull market. Now she's a late convert to the bullish side, and is trying not to become overly bearish again. If the market does correct, we might not want to rush to cover. A recession might indeed be around the corner. We also might have emotional damage from presidential impeachment hearings.