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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: zsteve who wrote (24715)	9/29/1998 7:55:00 PM
From: Gottfried	Read Replies (3) \| Respond to of 70976

zsteve/all," MERRILL MOVES.... Another negative reading from the Merrill Lynch bear-o-meter!" [See Merrill Lynch Is Bearish on America (http://www.pathfinder.com/fortune/investor/1998/981012/str.html).] Merrill's chief quant jock, Rich Bernstein, cut the stock weighting in his model portfolio from a none-too-aggressive 50% to a downright nasty 40%, and raised his cash weighting from zero to 10%. His model measures the asset allocations of 15 other Street strategists, and it's flashing SELL to him. In addition, this morning Mother Merrill downgraded Viacom from a "long-term buy" to an "accumulate." Viacom fell $6, to $56 3/4. Merrill also downgraded Gillette, surprise, surprise. Oh, just to prove that it can say something nice, Merrill upgraded Chase Manhattan, from "short-term neutral" to "short-term accumulate." And Merrill itself? Its stock fell another $ 9/16, to $50 3/8.<< The above is an excerpt from Fortune's Street Life newsletter (free). Time to go long? <vbG> GM