To: JSB who wrote (6631 ) 5/26/1999 12:55:00 AM From: B Tate Respond to of 118717
The headache was self-induced by spending too many 'social' hours with the local ex-pats. &>) Recovering nicely, thank you, while I sit here eating Kentucky Fried and mulling this market. Hmmm, stock thought, with Asia on the start to recovery this might be a good stock to own. (Kentucky Fried is one of the largest fast food chains in Asia - Asians LOVE chicken) Wasn't this originally a Pepsi company? My view is to be very careful this week. Most of the major indexes are right at or very near some major support. Good news if they bounce, decimation if they fall through. The larger well known inuts are particularly vulnerable to any continued decline. If they tank again tomorrow there will be some excellent buys either Fri. or Mon. My universe of stocks on my watch list consists of the DOW 30 plus 50 -60 intermediates. Oils, health, software, 'puters, retailers and IT companies. Also included are some "tradin trash" -as Dale likes to call them. Only two inets, SPDE and OMKT. After going thru the thread this AM I checked all the charts for "panic" selling or bottoming signs. I didn't see any signs of panic (X times normal volume - pick a number) or a lot of indications of bottoming sticks. What did stick out to me was that there was a lot of price movement down without crushing volume, particularly in the Big Caps. In a lot of cases volume was down as well as the price. Indicates to me that a lot of folks are sitting on their hands, or chewing their nails off at the elbow. If we bounce tomorrow (closing) I will be a buyer on Thursday. If not its the sidelines for me. I'll try and post a couple of things that are near or on support later after I've had some time to look at things again.