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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (7589)	4/14/1998 1:55:00 PM
From: Jeff Jordan	Read Replies (1) \| Respond to of 120523

I'm just wondering how this is effecting the price? 2nd hald is good. Thursday April 9, 7:58 am Eastern Time Pier 1 sees slower sales gains for April FORT WORTH, Texas, April 9 (Reuters) - Pier 1 Imports Inc.(PIR - news) said Thursday that it expects to see only single-digit sales gains in April because of the time shift of the Easter holiday. In a statement, company Chairman and Chief Executive Clark A. Johnson said, ''While we anticipate single digit sales gains in April because of the Easter shift we expect accelerating sales momentum in the months ahead.'' The company reported sales for the five weeks ended April 4 on Thursday of $95.5 million, representing a 10.8 percent increase in comparable store sales. The company said this was its 30th consecutive monthly double digit average sales gain. anticipates the market will lose 500-700 points in the upcoming correction. ''I'm not a bear,'' insists Kimmel, who believes that any drop will serve to ''wring the excesses out of this overbought market.'' He says, though, that the market's strong rise has actually hidden a fundamental weakness: recent gains were driven more and more by momentum buying, and less and less by fundamental strength. ''Momentum may be fine when the market's moving up, but remember that momentum can work both ways. A market that rises primarily due to momentum will tend to fall faster, too,'' he says. Kimmel does see some sunshine in an otherwise-cloudy picture. ''Such trends as a strong dollar, a competitive workforce and baby-boom demographics will drive the return of the bulls,'' he says. ''In the short term, however, this market is vulnerable to a downturn.'' ''Some investors may yawn over a 5% to 10% market correction, but many individual stocks get crushed in that kind of downturn,'' says Kimmel, citing issues like Veeco Instruments (Nasdaq: VECO - news) that fell 53 points in four months, from 73 in September 1997 to 20 in December. ''This is a good time to get rid of under-performing stocks, as well as story stocks that have no earnings or products.'' The market strategist's advice: ''Buy stocks that trade at big discounts to their growth rates.'' Kimmel's recommendations include Pier 1 Imports (NYSE: PIR - news), Action Performance Cos. (Nasdaq: ACTN - news), and First Years (Nasdaq: KIDD - news). Veco has been good to me... Just entered PIR @ 26.25 Been long on SMOD SEEK doing very nice today! Jeff