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To: Alok Sinha who wrote (16123)5/3/1999 6:30:00 PM
From: Stormweaver  Respond to of 64865
 
ALCOA has had a 50% run in the last two weeks; as commented on MSNBC "good year this last two weeks". Personally I jumped into CSE (cyclic Case Tractor) at 22 3/16 back in January and sold at 34 5/16 a couple of weeks back. Most cyclic's now need to show improved fundamentals to justify further buying. We're maybe just seeing a broadening of the market; especially of those who can't take the ups/downs of the techs/inets recently? Techs have driven much of the growth and I don't see that trend changing.

Shortly I see some bargains emerging; although May has been traditionally a dark market month (2nd only to October)!

Cheers
James



To: Alok Sinha who wrote (16123)5/4/1999 3:31:00 AM
From: Mephisto  Read Replies (1) | Respond to of 64865
 
With growth rates on average that of the economy, and zero pricing power I wondor what is driving the rush into cyclicals at these levels.

Twice today, market commentators said that economies in Asia have improved more quickly than they thought. They included Japan in this scenario. And they included Brazil!

Perhaps tomorrow, they will take it all back!

Cheers,

Mephisto