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At 06:04 PM 7/21/97 -0400, you wrote:
>Stocks on my watch list of potential purchases include:
>ATCT
>BJCT very risky
>CHK Warden Bros said it would go up and it wnet down.
>CPX
>WCOM
>WMT
>
>Any comments or ideas?
I've found Worden Bros. to be very untimely in their recommendations over
the years. They employ no cycle analysis. However, they are a great end of
day data vendor. I guess one out of two ain't bad.
As to your purchases - I'd watch them closely after we re-test the recent
market highs. We have an energy point coming up this Friday which coincides
with a durable goods orders government report. I expect we could test the
highs before Friday which would set the market up for a big fall.
However, if by chance we decline into Friday, then it will be a good buying
opportunity.
My money (per my personal cycle work) has the market retesting it's highs by
Friday.
Stuart
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