To: Broken_Clock who wrote (2513 ) 9/3/1998 4:20:00 PM From: SJS Respond to
From Briefing.com today:Don't be fooled by the talking heads on television or the research analyst who would have you believe that these stocks are on blue-light special. Relative to where they've been, they do trade at less-expensive valuations. But these stocks are being driven by earnings consistency and liquidity. Based on these factors, an argument can be made for possibly purchasing the shares. But individual fundamentals hardly suggest that these names are anything but rich. However, these are the stocks that are preventing U.S. equities from falling officially into a bear market. (Too late for small-caps. Their bear market began several months ago). In fact, it can be argued that these few names are the threads that are holding major international equity markets together right now. If they go, so do Europe, Latin America and the U.S. That's a considerable burden for half-a-dozen stocks to carry. But with the help of aggressive analysts and hungry investors, it is quite possible that these names will once again pull us through. (As a footnote, think about what is at stake here: Jobs, end-of-year bonuses, stock option values, retirement savings. A plethora of reasons to continue resuscitating the bull market).
