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To: Magic212 who wrote (7050)4/14/1999 1:15:00 PM
From: Jenne  Respond to of 19700
 
Im not sure he knows..
Those Annoying Cyclical Rallies
By James J. Cramer

4/14/99 12:41 PM ET


Looks like we have one of those annoying cyclical rallies on our hands. You know the type. Let's go buy some Reynolds Metals (RLM:NYSE) because Alcoa's (AA:NYSE) up. Any Phelps Dodge (PD:NYSE) for sale here? How about taking a shot at Ingersoll (IR:NYSE).

My experience with these cyclical rallies is that they last for a day or two and then people come back to what they know and love. I don't think this time will be any different. You had to be in these stocks yesterday if you were going to make any money.

Are they cheap? Of course. They are always cheap. Except when they blow up and miss the quarters. That, of course, is the problem. You get these ramps during earnings season when we discover that these companies are really alive and well. But then earnings season ends and it is back to Schering-Plough (SGP:NYSE). This time will be no different.