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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (4529)	4/15/1999 9:33:00 PM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 15132

Wally: ""..Of the 111 companies in the Standard & Poor's 500 Index reporting results as of Thursday morning, 74 topped Wall Street forecasts, surpassing expectations by an average of 6.9 percent, according to First Call Corp. Twenty-six firms met forecasts. Eleven fell below..." Earning have been great. BUT we should ask ourselves, why have so many that have beaten earnings estimates have declined in value on the announcement of those earnings and in such high volume on all of the averages? Are we going through distribution or rotation into to other areas or both and to what extent? That is a major question facing this market. BUT for the broadening of the market to include mid caps and small caps, I would be even more concerned at this point. But this has been a healthy occurrence thus far.

To: Wally Mastroly who wrote (4529)	4/18/1999 3:56:00 PM
From: Lars	Read Replies (3) \| Respond to of 15132

* Market Report * 4/16/99 4/09/99 %Change S&P 500 1,318.77 1,348.35 -2.19% Dow Jones 10,493.89 10,173.84 +3.15% NASD Comp 2,482.43 2,593.04 -4.27% Russell 2000 421.58 405.86 -3.87% SOX Index 395.34 410.07 -3.59% Value Line 432.45 414.32 +4.38% MS Growth 556.95 562.40 -.97% MS Cyclical 573.70 513.10 +11.81% T - Bill 4.21% 4.26% -5 BP Long Bond 5.57% 5.45% +12 BP Gold - Oz-Near Month $285.70 $283.20 +$2.50 Silver - Oz-Near Month $5.04 $4.93 +$.11 Positive Data Last Week as Economic Growth Eases But, Manufacturing Appears to be Strengthening Interest Rate Outlook Not a Given Consumer Prices for March rose +.2% - Core Rate (Without volatile Food and Energy) rose +.1% March Retail Sales up +.2% - Without Autos +.5% Slightly softer than consensus - See Below Atlanta FRB Index increases to 14.3 from 13.7 Richmond FRB Index rose to 15 from 2 - Big Gain February Business Inventories increase +.4% - But Sales up +.9% - Inventory/Sales Ratio Remains at 1.37 months - Historic Lows Jobless Claims rose +14,000 to 316,000 - Four Week Moving Average rose +4,250 to 300,250 - Increases Not Withstanding - Still Strong Data Housing Starts for March fell -1.3% to Annualized Rate of 1.77 million - Housing Permits fell -6% to Annualized Rate of 1.64 million units March Industrial Production rose +.1% - But Capacity Utilization at 80.1 was lowest since 1992 Univ. of Michigan Consumer Sentiment Preliminary Index for April fell to 104.8 from 105.7