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To: Chuzzlewit who wrote (20101)	4/23/1998 12:45:00 AM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

Chuzzlewit, Halliburton just reported: looks good- \| PRNews \| BizWire \| Finance Home ] ------------------------------------------------------------------------ Thursday April 23, 12:24 am Eastern Time Halliburton cites Energy Group gains DALLAS, April 22 (Reuters) - Halliburton Co. Wednesday reported a 42 percent increase in first quarter profits on a 24 percent revenue rise citing strong financial performance by its Energy Group business segment. Earnings rose to $0.44 per share diluted from $0.32 per share in 1997's initial quarter as revenues climbed to $2.4 billion. The Energy Group's 1998 first quarter revenues totaled $1.6 billion, an increase of 42 percent from a year earlier. DALLAS, April 22 (Reuters) - Halliburton Co. Wednesday reported a 42 percent increase in first quarter profits on a 24 percent revenue rise citing strong financial performance by its Energy Group business segment. Earnings rose to $0.44 per share diluted from $0.32 per share in 1997's initial quarter as revenues climbed to $2.4 billion. The Energy Group's 1998 first quarter revenues totaled $1.6 billion, an increase of 42 percent from a year earlier. Halliburton said revenue growth was particularly strong in international markets where revenues increased by more than 50 percent from a year ago. The business segment's first quarter operating income increased 58 percent to $185 million as the group's operating margin rose to 11.6 percent from 10.5 percent last year. The Energy Group's financial results benefited from strong revenue growth by the Halliburton Energy Services and Brown & Root Energy Services business units during the latest quarter. The Engineering and Construction Group's first quarter financial results were flat largely due to restructuring actions taken to exit from the environmental business and lower levels of pulp and paper industry activities. Also, a later than expected start up of a contract to refit United Kingdom submarines at the company's Devonport Royal Dockyard, as well as the continued wind down of a contract to provide logistical support services to U.S. troops stationed in Bosnia, reduced group's revenues, Halliburton said. ''We look for continued Energy Group progress during the balance of 1998, Chief Executive Officer Dick Cheney said. ''Our Engineering and Construction business is positioned for improved performance as the year progresses, he said, noting its backlog at March 31 was $7.0 billion, an increase of 20 percent compared to a year ago.

To: Chuzzlewit who wrote (20101)	4/23/1998 12:58:00 AM
From: Lucretius	Read Replies (2) \| Respond to of 95453

Chuz, you're invested in DELL, don't talk to me about fooling myself. Pull out a chart of the XAU. A rise in gold is usually an advance indication of coming inflation. The XAU bottomed a couple months ago, and crossed the 200 dma yesterday. Int. rates usually follow gold up. We've gone sideways for 4 months on the long bond, either we break and go dramatically lower or we break and go alot higher. I'm guessing we'll be back above 7% by the end of the yr. Then look at palladium, then silver. The Johanessburg gold index broke a 3 yr dwntrend yesterday. Macro events are unfolding. The $ is beginning to weaken. Bond has drifted higher whether you blow it off or not. Japs are talkin about dumping their bond holdings to raise cash. We get some economic numbers next week, we'll see how the mkt reacts. Have you looked at a chart of mutual fund cash levels vs the S&P?? Cash levels are at there lowest levels in 20 yrs!!!!!!! Bull/bear ratio is so slanted to the bulls it is permanently stained w/ cow manure. The bears I know are all still fully invested !! they're just nervous? These things when taken in the aggregate all paint a picture. For the last 3 months we've heard this can't be a top because there is no rampant speculation and interest rates are low. Well both of those things are changing right before your eyes. The party is topping. It won't end till later, but we are putting in a top. What can I say, I've got money on it. :) Unfortunately, as usual, most don't realize what is happening until it is too late. Your post is indicative of the complacency in the mkt by most participants. Good Luck. I personally think a little caution is wise at this point cause everything I see around me says SELL. Finally: <<So I simply don't see the economic basis for a meltdown. >>> Let's be honest, I could easily be off my rocker and wrong, but if it were that easy and you and I and this whole thread saw it coming, it would never happen! -Lucretius

To: Chuzzlewit who wrote (20101)	4/23/1998 1:19:00 AM
From: mph	Respond to of 95453

<< Perhaps the major driver is all of the new money pouring into the funds. These contributions need to be invested somewhere>> By George, he's got it! IMHO, that's what's largely driving the market. There's a good ten more years before the baby boomers are into Leisure World and they will continue to invest in the market. I sincerely doubt that gold will be the ticket. Gold ain't no Viagra (i.e., ain't sexy enough). There will, of course, be corrections---but a long term bear. I doubt it. OTOH, there sure is some irrational exuberance in some areas (KTEL, 'net stocks, etc.) Some say that's one sign of a market top. I'll go out on a ledge: We'll see Dow 10,000 before we see Dow 7500ish. (NB: I do not like to eat my words) mph