SP Earnings Watch, June 1998

[gary@xxxxxxxxxxxx (Gary Funck)]

I've updated the SP Earnings Watch page, at:
   http://www.intrepid.com/~gary/SP_Watch.html

The main news is that for the first time in 16 months, the
real (inflation adjusted) trailing EPS growth dipped below zero,
to -3.9%.  Negative EPS growth is not necessariy an indication
that the market will drop soon, but it is definitely not a strong
positive either (esp. at the current record high P/E levels).

-- 
| Gary Funck,  Intrepid Technology, gary@xxxxxxxxxxxx, (650) 964-8135