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Technology Stocks : INTEL TRADER -- Ignore unavailable to you. Want to Upgrade?

To: ViperChick Secret Agent 006.9 who wrote (3046)	6/16/1998 6:05:00 AM
From: Berney	Read Replies (2) \| Respond to of 11051

Re: MMM -- FA or TA I'm (still) in the middle of a really indepth analysis of the big boys. However, I can tell you that, today's announcement not withstanding, MMM will get a high score in my system. From an FA perspective, 97 posed a real problem for MMM. The gain from 96 EPS to 97 was so dramatic that it would be difficult to duplicate. However, the future looks bright for MMM. Further, it represents (in today's market) a reasonable value to to it projected growth rate. From a TA perspective, it has been obvious that there is a worm in the apple. MG and I briefly discussed MMM on this thread a couple of months ago. This worm is at the heart of TA based systems. It was clear that from a support perspective, MMM should have seen support at 89. It fell through it as if it did not exist. The long-term trend from MHO showed support at 87 and the Short-term trend had shown it at 94. Neither existed in reality. With FA we face the difficulty that the future changes on a dime. With TA, the same danger exists. However, the benefit both FA and TA have with MMM or any of the other Big Boys is that we can have a high degree of confidence that they will continue to exist. This confidence is not available on the secondary Market. To me, this issue is much more important than the MMM announcement. MMM is not a Market leader. Whatever one thinks about the company or its prospects is not going to affect future Market actions. However, I'm really concerned about this announcement. Other companies, among the Big Boys, are also dependent upon the relationship of the dollar and the Yen. I am particularly concerned with IBM. I believe they will not pre-announce. However, they have demonstrated a capacity to not hedge their bets so to speak. I have never understood this tendency on their part, but alas it exists. Therefore, my real concern in these Market conditions will come in the third week of July when Big Blue announces its quarterly earnings. In the meantime, I believe MMM is a screaming opportunity at these prices! BWDIK Berney