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

To: Ken W who wrote (8853)	9/17/1998 9:07:00 AM
From: LTK007	Read Replies (1) \| Respond to of 29382

The NY Times article that I read this week stated the primary,most significant selling force in the stock market for several months has been foreign money --they continued to say if the sell-off occurs at the open,it indicates it is foreign money. Sergio,this is day one of the critical part of testing whether the rally the past few days was only a teaser---the futures are now -24,so looks bad. Secondly,if it sell-offs at open then bounces it can be considered that selling was coming almost exclusively from outside the country. Max PS- My personal opinion is the US is now shooting itself in the foot ,as their will be no forgive and forget,live and let live coming regards Clinton--and that Starr wants a pound of flesh---we are going to see big trouble in the market place.This worries me--a lot.

To: Ken W who wrote (8853)	9/18/1998 9:07:00 PM
From: Sergio H	Read Replies (1) \| Respond to of 29382

Ken, hope you've recovered. Have you seen this ? OfficeMax Resumes Stock Repurchases (OMX) Friday, September 18, 1998 More than 200 firms are taking advantage of the market's recent decline to repurchase their stock at low prices on the open market. The latest buyback news is that OfficeMax (OMX) has resumed its $200 million stock repurchase plan, roughly 15% of its outstanding shares. America's number- three office supplies retailer, behind Office Depot and Staples, curtailed the program on August 21 as it was anticipating a merger. Before the merger talks, OfficeMax had repurchased nearly 1.2 million shares. "While no business is recession proof, the discount office supply business is about as steady as it gets," said buyback expert David Fried, who recommends buying the stock. Analysts predict earnings at OfficeMax will continue to grow at 23% per year. The firm has 120 new stores slated to open this year as well as ten stores apiece in Japan and Mexico. Though the firm continues to grow, OMX stock sells for less than 50% of its 52-week high of $19, according to Fried. He predicts OMX will eventually exceed its former price highs over the next two years. "We think OfficeMax is greatly undervalued," Fried says, as it now sells at its book value and has had the downside potential beaten out of it. "Buy OfficeMax now for a potential double to triple in two to three years." For more on David Fried's recommendation see "Hotline," September 15, 1998, The Buyback Letter. David Fried provides wealth-building opportunities in companies repurchasing their stock. investools.com