|
PureBytes Links
Trading Reference Links
|
Short selling.
Although the article discuss INTC and TXN. It also has implications for
AMAT as well.
Harley
http://biz.yahoo.com/finance/980820/merrill_de_2.html<x-html><html><base href="http://biz.yahoo.com/";><title>Yahoo - Merrill details Intel , TI cuts</title><center><table cellpadding=2 cellspacing=0
width="100%"><tr><td width="1%"><a href="http://quote.yahoo.com/?u";><img
src="http://us.yimg.com/i/fi/main4.gif"; border=0 width=281 height=31
alt="Yahoo! Finance"></a></td><td nowrap><font face=arial size=-1><a
href="http://quote.yahoo.com/?u";>Home</a> - <a
href="http://www.yahoo.com/";>Yahoo!</a> - <a
href="/f/bn.html">Help</a></font><br><hr size=0 noshade></td><td
width="1%"><a href="http://www.online.reuters.com";><img
src="http://us.yimg.com/i/dn/reuters4.gif"; border=0 alt=Reuters width=140
height=21></a></td></tr></table><p>Business
|
US Market
|
By Industry
|
IPO
|
AP
|
S&P
|
International
|
PRNews
|
disclaimer</small></td></tr></table></table><b>Thursday August 20, 3:31 pm <small>Eastern Time</small></b><h2>Merrill details Intel , TI cuts</h2><!--finance|903652260-->
<!-- TextStart -->
NEW YORK, Aug 20 (Reuters) - Merrill Lynch analyst Thomas
Kurlak said Thursday he downgraded his long-term rating for
Intel Corp. because of a slower growth forecast.<p>Kurlak, one of Wall Street's most influential technology
analysts, cut Intel's long-term rating to neutral from
accumulate. He kept Intel's near-term rating of neutral.<p>He also trimmed his long-term rating for semiconductor
company Texas Instruments Inc. (news) to accumulate from buy.<p>Texas Instruments kept its near-term rating of neutral, but
Kurlak cut his estimates for 1998 and 1999 earnings per share.<p>In a report on Intel, Kurlak:
<p>-- said slower growth and falling pricing defeated the old
growth formula;<p>-- forecast a decline in average sales price of 33 percent
over the next five years, and a drop in margin of five
percentage points, to 45 percent;<p>-- said server processors were not expected to offset fully
falling personal computer processor prices;<p>-- forecast a nine-percent longer-term sales growth after
the ``current negative growth period'' ends, down from the
previous 15 percent estimate;<p>-- said the low-end personal computer mix continued to
grow;<p>-- and said shortages of low-priced microprocessors and
``ample supply of high-end'' imply third-quarter sales could fall
short of forecasts.<p>``At 32 times times our 1998 earnings estimate, Intel's
stock is rich relative to our estimated future earnings growth
rate of seven percent,'' Kurlak said.<p>``It is not rich relative to its past growth rate of 30
percent and, therefore, investors are re-entering the stock
expecting a resumption of the past trend in 1999.<p>``We do not believe that this expectation is well supported
by analysts and it ignores the reasons for Intel's current
malaise.''<p>On Texas Instruments, Kurlak said slow markets for products
using the company's chips clouded recovery products.<p>He added that the analogue market was flattening and the
market for modems and disks was weak. Distribution markets were
``not improving much.''<p>He cut its estimate of Texas Instruments' 1998 earnings a
share to $1.40 from $1.53. The forecast of 1999 earnings a
share was cut to $2 from $2.30.
<!-- TextEnd -->
<p><hr align=left width="33%" noshade><table border=0 cellpadding=0><tr
valign=top><td><b>More Quotes<br>and News:</b></td><td><ul><li>Intel Corp (Nasdaq:US Market News</td></tr></table><hr align=left width="33%" noshade><center><form
method=get
action="http://search.news.yahoo.com/search/news";><input
size=24 name=p>
<input type=submit value="Search News"><input type=hidden name=n value=10>
<small>Help</small></form><hr><small>Copyright © 1998 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon<br>See our <a
href="http://www.yahoo.com/docs/info/gen_disclaimer.html";>Important
Disclaimers and Legal Information</a>.<br>Questions or Comments?</small></center>
<!-- [0903641522-0000018687]
INTC.O => INTC: headline
TXN.N => TXN: headline, text
z0000: slug RCH, slug HOT
-->
</html>
</x-html>From ???@??? Thu Aug 20 09:25:24 1998
Received: from 204.246.137.2 (204.246.137.2)
by mail05.rapidsite.net (RS ver 0.3) with SMTP id 4117
for <neal@xxxxxxxxxxxxx>; Thu, 20 Aug 1998 12:11:52 -0400 (EDT)
Received: (from majordom@xxxxxxxxx)
by listserv.equis.com (8.8.7/8.8.7) id HAA22110
for metastock-outgoing; Thu, 20 Aug 1998 07:30:21 -0600
X-Authentication-Warning: listserv.equis.com: majordom set sender to owner-metastock@xxxxxxxxxxxxx using -f
Received: from freeze.metastock.com (freeze.metastock.com [204.246.137.5])
by listserv.equis.com (8.8.7/8.8.7) with ESMTP id HAA22106
for <metastock@xxxxxxxxxxxxxxxxxx>; Thu, 20 Aug 1998 07:30:14 -0600
Received: from mail.glink.net.hk (mail.glink.net.hk [202.72.0.38])
by freeze.metastock.com (8.8.5/8.8.5) with ESMTP id HAA24118
for <metastock@xxxxxxxxxxxxx>; Thu, 20 Aug 1998 07:39:01 -0600 (MDT)
Received: from dialup.glink.net.hk (dialup155 [202.72.1.155])
by mail.glink.net.hk (8.8.7/8.8.7) with SMTP id VAA29625
for <metastock@xxxxxxxxxxxxx>; Thu, 20 Aug 1998 21:29:47 +0800 (HKT)
Message-Id: <199808201329.VAA29625@xxxxxxxxxxxxxxxxx>
Comments: Authenticated sender is <forrest2@xxxxxxxxxxxxxxxxx>
From: "Forrest Ho" <forrest2@xxxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx
Date: Thu, 20 Aug 1998 21:31:55 +0000
MIME-Version: 1.0
Content-type: text/plain; charset=US-ASCII
Content-transfer-encoding: 7BIT
Subject: Re: VIDYA
In-reply-to: <1.5.4.32.19980818202839.0068f144@xxxxxxxxxxxxxxxxxxxxx>
X-mailer: Pegasus Mail for Win32 (v2.54)
Sender: owner-metastock@xxxxxxxxxxxxx
Precedence: bulk
Reply-To: metastock@xxxxxxxxxxxxx
X-Loop-Detect: 1
> Date: Tue, 18 Aug 1998 22:28:39 +0200
> To: metastock@xxxxxxxxxxxxx
> From: derksenf <derksenf@xxxxxxxxxxxxxx>
> Subject: Re: VIDYA
> Reply-to: metastock@xxxxxxxxxxxxx
Dear Fran :
I can't do it as the result are all the same
percentage of profit ! I have Vidya in my formula
collection . Is it confused with the one of
your option one ??
> Enter long:
>
> Length:=opt1;
>
> Smooth:=5;
>
> AbsCMO:=(Abs(CMO(C,Length)))/100;
>
> SC:=2/(Smooth+1);
>
> VIDYA:=If(Cum(1)<=(Length+1),C,(SC*AbsCMO*CLOSE)+(1-(SC*AbsCMO))*PREV);
>
> Cross(C,VIDYA)
>
> Optimize: min2 max10 step1
>
> Here are the results for the Heng Seng Index:
> Points- and Long only test.
> Allowing 0.3 points for entry- and 0.3 points for exit commissions.
> Last 1250 periods (approximately 5yrs), after stopping out after 5 days:
>
> Test # Status Net Profit Percent Gain Total Trades Winning OPT 1:
> 2 OK 3480.9043 N/A 84 49 35 0.9190 3
> 1 OK 2554.6851 N/A 87 49 38 0.9259 2
> 4 OK 2417.3462 N/A 84 46 38 0.9960 5
> 6 OK 2229.3174 N/A 81 47 34 0.8615 7
> 3 OK 1562.1327 N/A 82 45 37 0.9265 4
> 7 OK 1541.7965 N/A 79 44 35 0.8985 8
> 8 OK 1485.5935 N/A 75 42 33 0.8894 9
> 9 OK 1122.3815 N/A 73 40 33 0.9071 10
> 5 OK 296.5579 N/A 83 45 38 0.8641 6
|
![http://us.yimg.com/i/fi/main4.gif"](http://us.yimg.com/i/fi/main4.gif"){kind=link}
![http://us.yimg.com/i/dn/reuters4.gif"](http://us.yimg.com/i/dn/reuters4.gif"){kind=link}