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To: brian h who wrote (22257)	1/30/1999 2:19:00 PM
From: Ruffian	Respond to of 152472

From Bloomberg 1/29/99> At 8 the next morning, company experts did begin delivering a prodigious amount of wisdom. First came Richard T. McCabe, Merrill's chief market analyst, a scholarly-looking fellow who told several self-deprecating jokes. (A client, a broker, and an analyst went hunting. They all followed tracks. The client bagged a deer, the broker a rabbit, but the analyst was hit by a train.) With a clutch of charts, McCabe made the case for a long-term bull market. But he argued that "we are in a rotational market," with various sectors taking turns at being dogs and darlings. In for an upswing will be energy and chemical companies, banks, and insurance and tech stocks. Instead of taking notes, I should have called a broker. Applied Materials, manufacturer of wafers for semiconductors, which McCabe thought was a good buy at $33, hit $49 only a month later. Some other favorites: AMR, BMC Software, Genzyme, and Ryder System. Merrill's high-tech crew also had its eye on the big picture. Lucianne Painter, chief computer-industry analyst, gave an upbeat picture of her sector. Growth drivers were all in place (new microprocessors, 32-bit software, Internet expansion, more-efficient companies, and more demand from overseas). Echoing my Money Show epiphany, Painter declared that "the rich will get richer"--that is, the current successes: Dell, Gateway 2000, Compaq, Microsoft, Toshiba, Fujitsu, IBM, and Hewlett-Packard. Telecommunications analyst Michael Ching sketched future developments in phone and cellular-phone service--yadda, yadda, yadda, Motorola, Lucent, Qualcomm, and Octel.