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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: chartseer who wrote (11426)	12/13/1998 10:27:00 AM
From: Al Serrao	Read Replies (1) \| Respond to of 34811

Chartseer, many thanks for your posts on the DJIA and others. It made me go back and revisit the charts and revaluate my positions. Good to have your insights and keeping us on our toes.

To: chartseer who wrote (11426)	12/13/1998 11:09:00 AM
From: Giordano Bruno	Respond to of 34811

Morning chartseer, large mutual fund outflows occurred last week... Outflows From Stock Funds Climb to a High for the Year An INTERACTIVE JOURNAL News Roundup NEW YORK -- Investors pulled $3.3 billion from stock mutual funds in the week ended Wednesday, the largest outflow of the year. The outflows, reported in a weekly reading on funds released by AMG Data Services, followed the withdrawal of $795 million from stock funds in the prior week. A year-ago, stock funds had outflows of $875 million. The rush of withdrawals has come as the stock market retreated from a record that was set last month. The Dow Jones Industrial Average hit 9374.27 on Nov. 23, completing its recovery from the turbulence that stocks encountered during the summer. The average has fallen since hitting the November record, though. The latest weekly reporting period for AMG began with a drop of 184.86 points in the industrial average. The industrials ended the five-day period just above 9000, and have since fallen well below that level. Some of the same worries that hit the market during the summer have begun to re-emerge. Investors have become increasingly concerned that weakness in global economies will cut into profits at U.S. corporations. A big part of the selling, though, also has been attributed simply to profit-taking. The industrials soared 1700 points from October to November. Meanwhile, money-market funds took in $12.85 billion in new cash in the week ended Wednesday, AMG, based in Arcata, Calif., said. The prior week, they had an inflow of $13.24 billion, while in the corresponding week last year, money-market funds took in a net $9.57 billion. Investors placed $1.08 billion into taxable bond funds in the latest week, AMG said, compared with $1.58 billion in inflows the prior week, and $1.25 billion in the same period a year earlier. Municipal bond funds took in a net $284 million in the latest week, compared with the prior week's $557 million intake and $444 million a year earlier. As of Wednesday, the 6,064 stock funds that AMG tracks had $2.39 trillion in assets. The 1,591 money market funds had $1.39 trillion, the 3,060 taxable bond funds had $752 billion and the 1,981 municipal bond funds had $302 billion.