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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: Ralph Bergmann who wrote (1316)	4/7/1998 10:47:00 AM
From: qcom	Read Replies (2) \| Respond to of 6439

I'm New to the thread but long on MO. Anybody have any thoughts on the statement in the 97 annual report regarding the harmful effects of legislation which may cause the company to "reevaluate its share buyback and dividend policies"? Is this just so they won't get in trouble later if the worst hits or are they warning of a dividend cut for real? Down to 37 and change today--stock up.

To: Ralph Bergmann who wrote (1316)	4/7/1998 3:27:00 PM
From: Maven	Read Replies (2) \| Respond to of 6439

Three bad-news items for Phillip Morris may account for the drop in price. 1. Merrill Lynch downgraded MO to near-term neutral, long-term attractive, from the previous rating of near-term attractive, long-term buy. I interpret this exercise in semantics to mean--hang on to your present holdings but don't add to your position. (Anyone else have a differing reading on this? Please chime in.) 2. The tobacco companies must now turn over 39,000 documents to the Minnesota prosecutors. The Supreme Court refused to block the release. 3. The cigarette companies turned over huge quantities of internal documents to Senator Thomas Bliley, Virginia Republican, and member of the House Commerce Committee. In light of the fierce battle waged by the tobacco companies to invoke attorney-client privilege and keep these papers secret, we may assume that those engaged in this inquisition and witch-hunt will have a grand time seeking out the most harmful information they can release to the public, to bolster their cases and gain their 15 minutes in the limelight. Be prepared for months of revelations, disclosures and political posturing in the media, all damaging to the tobacco companies. For those of us LONG on MO, expect a tough time and declining price. Keep the Maalox handy. Is it the end of the world? Not likely. At the point of maximum pessimism, it will be time to BUY. To identify that point, I'd like to hear from any mavens on this post who work with Technical Analysis, as I do. Robert S. Sheldon

To: Ralph Bergmann who wrote (1316)	4/8/1998 1:00:00 AM
From: Rarebird	Read Replies (2) \| Respond to of 6439

" Why is MO losing ground today "? Tremendous Fear! The tobacco industry is presumably the legalized drug lords of the U.S. economy! Some members of Congress want an even tougher deal! How far does Congress and the President want to go here? Do they want to put them out of business? I bought more MO today at $37.75. It's insanity. I don't see how technical or fundamental analysis can help much here, as the selling is inspired by the fear of the U.S. Government's tactics to destroy the tobacco industry! To be sure, MO is alot more than tobacco, but at the moment the selling doesn't care. Again, this is a carbon copy of what I went through with Pfeizer in 93. Constant selling in the face of great fundamentals. I know the pain and suffering your all going through. But I also know from experience that you have to BUY MO here and load up big time as it declines further; for you will be justly rewarded when the insanity eventually ends. I don't know where support for MO's stock is. My guess? Mid 30's, but fear has no bounds. If you can handle the pain, you can make a fortune here.