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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: j.o. who wrote (10546)	4/11/1999 12:42:00 PM
From: Stephen	Read Replies (1) \| Respond to of 99985

The interesting thing about DELL was that once you got past the rhetoric .... and the usual lines of how well things are going, M. Dell was really saying that they wouldn't meet any whisper number, just the current published estimates. With a lot of the last month of the qtr still to go I believe that says quite a lot and regard it as a cloaked earnings warning. Given concerns about some other hi-tech names ... this could get interesting quite quickly. Also, I keep hearing how the market is 'priced for pefection' ... and have been hearing that for the last 300 DJIA points & zillion Nasdaq points that have been gained. Well perfection means not only a great economic outlook, but also growing earnings. The second is obviously missing and something has to give in this pyramid scheme. I realise its possible to 'improve' on the dubious accounting methods currently used by many companies to avoid stating the reality of their books .... but I cannot believe there's much more these companies can do. Finally, the lowest of the low. We now have analysts initiating coverage on internet companies and raising price targets by 50-100 points.... based upon ..... the likelihood that by raising the price the stock will actually appreciate. If that isn't the reason .... I have no idea what the analysts are actually basing their price targets on. The ultimate self-fulfilling prophecy. This market is very sick imho ...... and needs a big shakeout to get it healthy again. Course, thats unlikely to provide such a great environment to make profits .....short term .... but ... it really is needed imho cause the worse it gets now ... the worse it gets later ....... Stephen