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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: put2rich who wrote (11518)	7/14/1998 7:04:00 PM
From: Market Tracker	Respond to of 18691

Thanh, With INTC coming in 2 cents under First Call's consensus estimate, the next major focus will be on what is said during this afternoon's conference call. I have not had the opportunity to listen to the call, but I'm positive all ears will be listening for word on top line growth (revenues) prospects over the next 3-9 months. With INTC EPS disappointing(?) even the downsized quarterly consensus estimates, it could enter a trading range until the future is more certain. This bull market is now being driven by massive liquidity. I heard today that foreign money, seeking a safe haven on US shores, has risen 6-FOLD in the past 5(?) years. US baby boomers, [the largest demographic spike in US history], have entered their maximum earning years, (50-65), and many are feeling the market's "wealth effect". June's net inflows to mutual funds was ~ $24 billion, and frankly IMO, the market has money coming out of it's ears. NYSE volume was ~700 million, and the DJIA made an upside breakout through an area which it previously failed to do on more than one occasion. Ralph Acampora of Prudential, the accurate perenial bull, will publically admit he is thinking of Dow levels of 10,600. Hashimoto's defeat has signaled to the markets, that the Japanese people want more immediate action than Hashimoto was willing to provide. If new leader is perceived to be serious about righting the Japanese economy, the "Asian Flu", could very well be on the early road to recovery. MT