Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : LSI Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Duane L. Olson who wrote (11344)	4/1/1998 1:59:00 AM
From: Mang Cheng	Respond to of 25814

General market comments form S&P (I need to post these stuff because the next day they're gone) : Tuesday March 31, 1998 (4:43 pm EST) "Still Ways to Go Before We Get to Intermediate Term Top" By Paul Cherney, Market Analyst NEW YORK, Mar. 31 (Standard & Poor's) - There has been some slight deterioration in market internals over the last couple of days, but not enough to cause us to turn negative. We believe the market is just taking a much needed rest on its way to still higher prices. We have witnessed an increase in the number of NYSE new lows and a decrease in the number of NYSE new highs. However, using a combination of moving averages on this data has yet to produce a sell signal. The NYSE advance/decline line is still near its high but has flattened out. Typically, the NYSE advance/decline line peaks months before any major trouble. We are getting many different readings on sentiment at the current time. There have been high (bullish) readings from index put/call ratios, yet the overall put/call ratios are about neutral. Advisory bullishness continues to rise, but we have not yet hit extreme levels which would be negative. Our call-put premium indicator has definitely put in a bearish spike top and has started to head lower. This indicator shows that call buyers have been willing to pay high premiums of late, which is not a good sign. This indicator has been early at signaling tops in the past by about two months, which corresponds closely with our previous intermediate term top forecast in June. The S&P 500 remains in a narrow, bullish channel and we would view any pause or pullback at this time as a healthy rest. We are probably about half to two-thrids of the way to the intermediate term top that we envision in the next couple of months and would remain on the long side until we see more evidence that a top is here. Our projections of 1160 on the S&P 500, 2000 on the NASDAQ, and 525 on the Russell 2000 are still in place. 31-MAR-98 16:43:09 (01091814) Copyright 1998 Standard & Poor's Investment Advisory Services, Inc. The information contained in this report may not be published, broadcast, personalwealth.com