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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: LastShadow who wrote (8025)	2/8/1999 12:01:00 PM
From: Jay Lyons	Read Replies (2) \| Respond to of 43080

McCabe (sp?) at Merrill Lynch calling for test of the October lows, and I imagine he makes a pretty penny as well. Here's the text of Acompura's call: Over the past several weeks we highlighted in this section our concerns about some technical near term problems like: negative breadth, too much bullish sentiment and the very poor price action of the Dow Utility average. Today we want to add three more technical difficulties that could have a negative impact on the market's near term outlook: NYSE volume is running over 800 million shares per day with no appreciable upside increase in price momentum. This is called "churning". And after a huge price advance since the October 1998 low, this churning activity can be construed as distribution or topping activity. Stock splits are abounding—this is usually a late cycle phenomenon. The tech stocks are, on balance, under pressure. Even after last week's drubbing, many of these issues are still too spiky and could drop another 10% + from current levels before encountering their respective major uptrends or significant support levels. Rotation is sweeping across the tape. The recent leaders are under near term pressure while the one's that basically lagged the market over the past several months are quickly becoming attractive. For example, the cyclical side of the market is holding up well: e.g. steels, papers and some energy names. On the other hand, financial issues are beginning to flounder, like banks and interest sensitive sectors: Stocks that are rolling over in price range are: Philip Morris (MO—46 1/8, is not rated by Prudential Securities Research) VFC Corp. (VFC—41 1/2, is rated 'STRONG BUY" by Prudential Securities Research) State Street (STT—68 1/2, is not rated by Prudential Securities Research) First Union (FTU—49 1/8, is rated 'STRONG BUY' by Prudential Securities Research) Mellon Bank Corp. (MEL—65 3/8, is rated 'ACCUMULATE' by Prudential Securities Research) National Semiconductor (NSM—11 /38, is not rated by Prudential Securities Research) Issues that seem to be enjoying positive investor interest—money appears to be rotating into these names: Kellogg (K—39 5/8, is rated 'HOLD' by Prudential Securities Research) Allergan (AGN—79, is not rated by Prudential Securities Research) Clorox (CLX—120 7/8, is rated 'STRONG BUY" by Prudential Securities Research) Weyerhaeuser (WY—56 1/8, is rated 'ACCUMULATE' by Prudential Securities Research) McDonalds Corp. (MCD—80 5/16, is not rated by Prudential Securities Research) USX US Steel (X—28 1/4, is rated 'STRONG BUY' by Prudential Securities Research)

To: LastShadow who wrote (8025)	2/10/1999 11:01:00 AM
From: kukuiokala	Read Replies (1) \| Respond to of 43080

Re Tool: Sorry Last Shadow, respect your thought process and did not intend to tease. Was very intersted in discussion of compiling trades for tax time. Seems active traders face a nightmare during the year and in advance of tax time managing and minimizing the tax impact of their trades. Seems no app on market addresses this well, but intersted if I am wrong. As for the app to be released, I would say more if I could...but a public forum is not the place. When I can say more, I will return on this subject.