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.

Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (8515)	5/13/1998 10:34:00 AM
From: Chris	Respond to of 42787

10:00 ET Dow +53, Nasdaq +8, S&P +4.92: Firm market, but seems to temporarily top out...doesn't look like early burst in itself will push much higher...an open question now on direction - whether a Monday style sell-off or a Tuesday style surge occurs...breadth is good and action solid so far...techs the strongest sector with rest of market mostly posting broad, modest gains...Dow Transports +23 as airlines are firm. 09:45 ET Dow +56, Nasdaq +8, S&P +4.03: Stronger than expected as cash investors push indices steadily higher after firm open...Nasdaq helped by Microsoft (MSFT) +2 7/8 on news that appeals court ruled that December order didn't affect Windows 98...by no means a closed legal issue though...techs broadly higher though, with Bay Networks (BAY) +4 on news that it turned down takeover offer...PPI long forgotten as CPI is now due tomorrow morning. 09:15 ET: S&P futures +1 1/2 on top of strong close yesterday about 2 points above fair value, so it looks like the Dow could open +40 but it is also possible that cash investors will be more enthusiastic than futures indicate, especially after yesterday's strong close and today's rumors about Bay Networks (BAY)...BAY reportedly turned down takeover offer, but open to bids, and networking stocks may benefit. 08:40 ET: S&P futures are +1, but closed yesterday almost 2 points above fair value of about a 4.40 premium of futures over cash...so, right now that suggests an up open of about 30 points on the Dow...April PPI +0.2% and core +0.2% are both a little stronger than expectations of +0.1% and unch respectively, but a chunk of the gain was due to a single category - tobacco - so it hasn't caused much concern...bond market flat...April Retail Sales of +0.5% were as expected...slight underlying bullish sentiment left over from yesterday.