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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ditchdigger who wrote (5258)	5/26/1998 6:28:00 PM
From: Sergio H	Read Replies (1) \| Respond to of 29382

Here you go DD, it's just like Joe says: Tuesday May 26, 2:39 pm Eastern Time German DAX seen extending rise to new highs FRANKFURT, May 26 (Reuters) - German shares were expected to continue their run this week after positive earnings reports and forecasts sent shares to new record highs on Tuesday. By 1402 GMT, the Xetra DAX index of 30 blue-chip issues was trading up 1.13 percent at 5,655.44 points after earlier reaching a new intraday high of 5,671.52. In bourse trade, the DAX index closed at 5,644.29, its fourth consecutive record. ''At this rapid pace I wouldn't rule out the market reaching 6,000 by mid-July,'' one dealer said. Also boosting shares was a stronger dollar, which traded at 1.7711 marks. Dealers said the market was being fuelled by investors buying rather than speculators, who tend to trade shares for short-term gain rather than holding them. But they added that the absence of speculators did somewhat trim volumes traded, though liquidity remained fairly high after months of corporate dividend payments. ''The gamblers were out and this had an effect on the turnover. The investors are buying,'' one dealer said. Tentative starting gains on Wall Street dampened the DAX in late trade and when the Dow slipped into negative territory German shares began retreating from their highs