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In a message dated 5/28/99 2:07:24 PM Eastern Daylight Time,
whford@xxxxxxxxxxxxx writes:
<<
FRIDAY MAY 28, 1999-5:45AM PST
GOOD MORNING PITBULLS
Yesterday's market action was right by the playbook. If you are
mystified or anxious about what's happening in the market and would
like to see where I feel this market is going near and mid-term, I
have put a full copy of last night's market commentary at
http://www.wwfn.com/commentary/sample.html.
Lots of ink of the color red in overseas markets this morning, but
again, at this juncture they are following not leading our market.
SP500 is near neutral this morning, currently at +2 points. We are
looking for a mild rally this morning, but don't think it will hold
as very few traders are looking forward to holding their positions
over the holiday weekend with as much volatility as we have seen as
of late. This holiday week is supposed to end on a high note, if you
follow historical precedents, but I don't think that's in the cards.
You will probably see a lot of intraday volatility again today as
many traders took a VERY long holiday and aren't even showing up at
the pits this morning. When this happens, the few that remain try to
push the markets around a bit to gain enough of an advantage to scalp
a few trades during the day. The purchaser's Managers Index report at
10AM Eastern will probably be as good an excuse as any for a little
market play by those left on the floor.
NASDAQ futures are currently unchanged at 2058.00. Bellwethers are
topping the most active in pre-opening trade, with Microsoft +3/4 at
79 1/8, Intel +1/8 at 53 1/4 and Dell +3/8 at 34 7/8.
SP FuturesTrader's computers are set for program buying at $5.05 and
weighted for AMGN, AXP, BMY, G, MSFT, and TA; and set for program
selling at $1.18 and weighted for ALD, ATI, DD, GT, PPG, and XON.
FairValue is $3.16. If you are mystified by what all this means,
there is an explanatory link on the sample page mentioned above that
will give you some insight as to what these numbers mean and why they
are important to traders.
Please let me know if there is anything else you would like to see in
these reports.
REGARDS,
HENRY >>
Return-Path: <whford@xxxxxxxxxxxxx>
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Date: Fri, 28 May 1999 05:58:05 -0700
To: bill@xxxxxxxxxx, wford@xxxxxxxx
From: WH Ford <whford@xxxxxxxxxxxxx>
Subject: MORNING BELL REPORT 5/28
FRIDAY MAY 28, 1999-5:45AM PST
GOOD MORNING PITBULLS
Yesterday's market action was right by the playbook. If you are
mystified or anxious about what's happening in the market and would
like to see where I feel this market is going near and mid-term, I
have put a full copy of last night's market commentary at
http://www.wwfn.com/commentary/sample.html.
Lots of ink of the color red in overseas markets this morning, but
again, at this juncture they are following not leading our market.
SP500 is near neutral this morning, currently at +2 points. We are
looking for a mild rally this morning, but don't think it will hold
as very few traders are looking forward to holding their positions
over the holiday weekend with as much volatility as we have seen as
of late. This holiday week is supposed to end on a high note, if you
follow historical precedents, but I don't think that's in the cards.
You will probably see a lot of intraday volatility again today as
many traders took a VERY long holiday and aren't even showing up at
the pits this morning. When this happens, the few that remain try to
push the markets around a bit to gain enough of an advantage to scalp
a few trades during the day. The purchaser's Managers Index report at
10AM Eastern will probably be as good an excuse as any for a little
market play by those left on the floor.
NASDAQ futures are currently unchanged at 2058.00. Bellwethers are
topping the most active in pre-opening trade, with Microsoft +3/4 at
79 1/8, Intel +1/8 at 53 1/4 and Dell +3/8 at 34 7/8.
SP FuturesTrader's computers are set for program buying at $5.05 and
weighted for AMGN, AXP, BMY, G, MSFT, and TA; and set for program
selling at $1.18 and weighted for ALD, ATI, DD, GT, PPG, and XON.
FairValue is $3.16. If you are mystified by what all this means,
there is an explanatory link on the sample page mentioned above that
will give you some insight as to what these numbers mean and why they
are important to traders.
Please let me know if there is anything else you would like to see in
these reports.
REGARDS,
HENRY
PS: PLEASE LET ME KNOW IF YOUR EMAIL BROWSER DOES NOT APPEAR TO BE
TRANSLATING THIS REPORT PROPERLY. Also if you are on AOL, their mail
servers do not deliver mail in a timely manner...we've had reports of
delays of from 4 to 16 hours, which kind of makes this "Morning heads
up" irrelevent. You might consider a FREE web based mail service such
as hotmail.com or netscapes free mail service where your messages are
generally passed through in less than 2 minutes even in peak traffic
periods.
--------=============-----------
>OVERSEAS MARKETS
> PRICE CHANGE %CHG
>>
>>FTSE 100 Index
>> 6,168.90 -30.60 -0.49
>>ASX All Ordinaries Index 2,888.6 -16.1 -0.55
>>Straits Times Index 1,903.68 -12.09 -0.63
>>AEX Amsterdam Index 549.07 -4.06 -0.73
>>MIB 30 Index 34,808 -265 -0.75
>>CAC 40 Index 4,289.78 -36.66
>> -0.84
>>DAX Index 5,031.92 -51.91 -1.02
>>Nikkei Stock Average 225 15,972.68 -204.51 -1.26
>>KLSE Composite Index 749.03 -11.31 -1.48
>>Hang Seng Index 12,059.25 -249.28 -2.02
--------=============-----------
Government/economic happenings today
Commerce Department releases its report on Personal Income and
Consumption for April at 8:30 a.m. EDT
Purchasing Managers Association of Chicago releases its Purchasing
Managers Index for May at 10 a.m. EDT
University of Michigan releases it Final Consumer Sentiment Index
for May at 10 a.m. EDT
Federal Reserve releases its weekly report on Assets And Liabilities
Of Commercial Banks In The United States H.8 at 4 p.m. EDT.
Baker Hughes Inc. releases its weekly survey of The Number Of Active
Oil And Gas Drilling Rigs In The U.S. and Canada
--------=============-----------
SPLIT CALENDAR
Splits:
Ticker Company Amount
BHIC BHI CORP 3-for-1
CMGI CMGI INC 2-for-1
etc ENVIRONMENTAL TECTONICS 2-for-1
IHOP IHOP CORP 2-for-1
QWST QWEST COMMUNICATIONS 2-for-1
TXCC TRANSWITCH CORP 3-for-2
Reverse Splits:
No Reverse Splits Today
Distributions:
No Distributions Today
--------=============-----------
This is a free report, so therefore will be sent when there are
events of consequence, unusual market activity or when I feel like it
and am up at before 5 AM to watch the overnight markets ....I don't
like getting unwanted mail, so if you don't want to receive it
anymore, just drop me a line.
--------=============-----------
REUTERS NEWS:
Eurostocks To Fall On Rate Fears
European stock markets were expected to fall decisively Friday after
Wall Street ended with its steepest point drop of the year Thursday.
Most Asian Markets Down On Dow Drop
Most Asian stock markets fell Friday, taking their cues from this
year's steepest point-drop in the Dow overnight, while the dollar
pared some of its losses against the yen after tumbling more than two
yen in New York.
Dow Dives In '99's Biggest Point Drop
The Dow Jones industrial average tumbled to its biggest point drop of
the year Thursday, as bond interest rates continued to rise amid
worries about inflation and international unrest.
Nasdaq Approves Plan For Late Trading
Playing the stock market may become prime-time entertainment as soon
as September, with investors trading shares of 3Com Corp. while
watching ``Third Rock from the Sun'' on TV.
Stockholders Forge Oil Giant Exxon Mobil
Stockholders of Exxon Corp. and Mobil Corp. Thursday overwhelmingly
approved combining the two companies to create the world's biggest
investor-owned oil company.
U.S. Economy Slower But Still Vigorous
The U.S. economy grew slightly less vigorously in the first quarter
this year than previously thought, the Commerce Department said
Thursday, partly because of a swelling trade gap.
First Union Adjusts EVEREN Deal
U.S. regional bank holding company First Union Corp. Thursday said it
would adjust the terms of its deal to buy retail brokerage EVEREN
Capital Corp., to make up for a sharp slide in its stock price.
Northrop To Buy Allegheny Unit
Northrop Grumman Corp., the nation's fifth-largest defense
contractor, said Thursday it would buy a unit of Allegheny Teledyne
Inc. to boost its strength in making unmanned military air vehicles.
Medtronic Profits, Sales Surge In Quarter
Medical device maker Medtronic Inc. said Thursday its fiscal 1999
fourth quarter earnings rose 9.9 percent before charges on a 16.7
percent revenue increase driven by strength in its pacemaker and
defibrillator products and its neurological and spinal product lines.
CA Beats Street On Strong Sales
Computer Associates International Inc. Thursday reported stronger
than expected fourth quarter earnings after Internet-driven demand
for its corporate computer network software stoked sales.
------------------------------------------------------------------------
_ _____________________________ _
/ )| http://www.pitbull.com |( \
/ / | http://www.stocktables.com | \ \
_( (_ | http://www.wwfn.com | _) )_
(((\ \>| /-> <-\ |</ /)))
(\\\\ \|/ / INFO 949-949-9064 \ \|/ ////)
\ / ORDERS 800-491-9951 \ /
\ _/ FAX 949-643-8312 \_ /
/ /| mailto:wford@xxxxxxxx |\ \
/___/ |_____________________________| \___\
--------------------
<center><bold><fontfamily><param>Arial</param><color><param>0000,0000,FFFF</param><bigger><bigger><bigger>FRIDAY
MAY 28, 1999-5:45AM PST
</bigger></bigger></bigger></color></fontfamily></bold></center><fontfamily><param>Arial</param>GOOD
MORNING PITBULLS
Yesterday's market action was right by the playbook. If you are
mystified or anxious about what's happening in the market and would
like to see where I feel this market is going near and mid-term, I have
put a full copy of last night's market commentary at
http://www.wwfn.com/commentary/sample.html.
Lots of ink of the color red in overseas markets this morning, but
again, at this juncture they are following not leading our market.
SP500 is near neutral this morning, currently at +2 points. We are
looking for a mild rally this morning, but don't think it will hold as
very few traders are looking forward to holding their positions over
the holiday weekend with as much volatility as we have seen as of late.
This holiday week is supposed to end on a high note, if you follow
historical precedents, but I don't think that's in the cards.
You will probably see a lot of intraday volatility again today as many
traders took a VERY long holiday and aren't even showing up at the pits
this morning. When this happens, the few that remain try to push the
markets around a bit to gain enough of an advantage to scalp a few
trades during the day. The purchaser's Managers Index report at 10AM
Eastern will probably be as good an excuse as any for a little market
play by those left on the floor.
NASDAQ futures are currently unchanged at 2058.00. Bellwethers are
topping the most active in pre-opening trade, with Microsoft +3/4 at 79
1/8, Intel +1/8 at 53 1/4 and Dell +3/8 at 34 7/8.
SP FuturesTrader's computers are set for program buying at
<bold><color><param>0000,9999,0000</param>$5.05</color></bold> and
weighted for AMGN, AXP, BMY, G, MSFT, and TA; and set for program
selling at
<bold><color><param>CCCC,0000,0000</param>$1.18</color></bold> and
weighted for ALD, ATI, DD, GT, PPG, and XON.
<color><param>0000,0000,9999</param>FairValue</color> is
<bold><color><param>0000,0000,9999</param>$3.16</color></bold>. If you
are mystified by what all this means, there is an explanatory link on
the sample page mentioned above that will give you some insight as to
what these numbers mean and why they are important to traders.
Please let me know if there is anything else you would like to see in
these reports.
REGARDS,
HENRY
PS: PLEASE LET ME KNOW IF YOUR EMAIL BROWSER DOES NOT APPEAR TO BE
TRANSLATING THIS REPORT PROPERLY. Also if you are on AOL, their mail
servers do not deliver mail in a timely manner...we've had reports of
delays of from 4 to 16 hours, which kind of makes this "Morning heads
up" irrelevent. You might consider a FREE web based mail service such
as hotmail.com or netscapes free mail service where your messages are
generally passed through in less than 2 minutes even in peak traffic
periods.
</fontfamily><center>--------=============-----------
</center><excerpt><bold><fontfamily><param>Arial</param><color><param>0000,0000,FFFF</param><bigger><bigger><bigger>OVERSEAS
MARKETS
</bigger></bigger></bigger></color></fontfamily></bold><bigger>PRICE CHANGE %CHG<underline><fontfamily><param>Helvetica</param><color><param>0000,6666,9999</param>
<excerpt>
FTSE 100 Index
</excerpt></color></fontfamily></underline><fontfamily><param>Helvetica</param><excerpt>
<color><param>FFFF,0000,0000</param>6,168.90 -30.60 -0.49 </color> <underline><color><param>0000,6666,9999</param>
ASX All Ordinaries Index </color></underline>
<color><param>FFFF,0000,0000</param>2,888.6 -16.1 -0.55 </color> <underline><color><param>0000,6666,9999</param>
Straits Times Index </color></underline>
<color><param>FFFF,0000,0000</param>1,903.68 -12.09 -0.63 </color> <underline><color><param>0000,6666,9999</param>
AEX Amsterdam Index </color></underline>
<color><param>FFFF,0000,0000</param>549.07 -4.06 -0.73 </color> <underline><color><param>0000,6666,9999</param>
MIB 30 Index </color></underline>
<color><param>FFFF,0000,0000</param>34,808 -265 -0.75 </color> <underline><color><param>0000,6666,9999</param>
CAC 40 Index </color></underline>
<color><param>FFFF,0000,0000</param>4,289.78 -36.66 -0.84 </color> <underline><color><param>0000,6666,9999</param>
DAX Index </color></underline>
<color><param>FFFF,0000,0000</param>5,031.92 -51.91 -1.02 </color> <underline><color><param>0000,6666,9999</param>
Nikkei Stock Average 225</color></underline>
<color><param>FFFF,0000,0000</param>15,972.68 -204.51 -1.26 </color> <underline><color><param>0000,6666,9999</param>
KLSE Composite Index </color></underline>
<color><param>FFFF,0000,0000</param>749.03 -11.31 -1.48 </color> <underline><color><param>0000,6666,9999</param>
Hang Seng Index </color></underline>
<color><param>FFFF,0000,0000</param>12,059.25 -249.28 -2.02 </color><bigger>
</bigger></excerpt></fontfamily></bigger></excerpt><bigger><fontfamily><param>Helvetica</param><bigger>
</bigger></fontfamily></bigger><center>--------=============-----------
<bold><fontfamily><param>Arial</param><color><param>0000,0000,FFFF</param><bigger><bigger><bigger>Government/economic
happenings today
</bigger></bigger></bigger></color></fontfamily></bold></center><fontfamily><param>Arial</param><bigger>Commerce
Department releases its report on <bold>Personal Income and Consumption
</bold> for April at 8:30 a.m. EDT
Purchasing Managers Association of Chicago releases its
<bold>Purchasing Managers Index </bold> for May at 10 a.m. EDT
University of Michigan releases it <bold>Final Consumer Sentiment Index
</bold> for May at 10 a.m. EDT
Federal Reserve releases its weekly report on
<bold><color><param>EEEE,0000,0000</param>Assets And Liabilities Of
Commercial Banks In The United States H.8 </color></bold> at 4 p.m.
EDT.
Baker Hughes Inc. releases its weekly survey of <bold>The Number Of
Active Oil And Gas Drilling Rigs In The U.S. and Canada
</bold></bigger></fontfamily><center>--------=============-----------
</center><bold><underline><fontfamily><param>Arial</param><color><param>0000,0000,FFFF</param><bigger><bigger><bigger>SPLIT
CALENDAR</bigger></bigger></bigger></color></fontfamily></underline><bigger><bigger><fontfamily><param>Georgia</param>
</fontfamily><fontfamily><param>Arial</param>Splits:
</fontfamily></bigger><fontfamily><param>Arial</param>Ticker Company Amount
</fontfamily></bigger></bold><bigger><fontfamily><param>Arial</param><color><param>FFFF,0000,0000</param>BHIC
</color>BHI CORP 3-for-1
<color><param>FFFF,0000,0000</param>CMGI </color>CMGI INC 2-for-1
<color><param>FFFF,0000,0000</param>etc </color>ENVIRONMENTAL
TECTONICS 2-for-1
<color><param>FFFF,0000,0000</param>IHOP </color>IHOP CORP 2-for-1
<color><param>FFFF,0000,0000</param>QWST </color>QWEST
COMMUNICATIONS 2-for-1
<color><param>FFFF,0000,0000</param>TXCC </color>TRANSWITCH
CORP 3-for-2
<bold><bigger>Reverse Splits:
</bigger></bold></fontfamily><bigger><fontfamily><param>Georgia</param>No
Reverse Splits Today
</fontfamily><bold><fontfamily><param>Arial</param>Distributions:
</fontfamily></bold><fontfamily><param>Georgia</param>No Distributions
Today
</fontfamily></bigger></bigger><center>--------=============-----------
</center>This is a free report, so therefore will be sent when there
are events of consequence, unusual market activity or when I feel like
it and am up at before 5 AM to watch the overnight markets ....I don't
like getting unwanted mail, so if you don't want to receive it anymore,
just drop me a line.
<center>--------=============-----------
<bold><underline><fontfamily><param>Arial</param><color><param>0000,0000,FFFF</param><bigger><bigger><bigger>REUTERS
NEWS:</bigger></bigger></bigger></color></fontfamily></underline></bold>
</center>
<bold><fontfamily><param>Georgia</param><color><param>0000,0000,FFFF</param><bigger><bigger>Eurostocks
To Fall On Rate Fears
</bigger></bigger></color></fontfamily></bold><fontfamily><param>Georgia</param><bigger>European
stock markets were expected to fall decisively Friday after Wall Street
ended with its steepest point drop of the year Thursday.
<bold><color><param>0000,0000,FFFF</param><bigger>Most Asian Markets
Down On Dow Drop
</bigger></color></bold>Most Asian stock markets fell Friday, taking
their cues from this year's steepest point-drop in the Dow overnight,
while the dollar pared some of its losses against the yen after
tumbling more than two yen in New York.
<bold><color><param>0000,0000,FFFF</param><bigger>Dow Dives In '99's
Biggest Point Drop
</bigger></color></bold>The Dow Jones industrial average tumbled to its
biggest point drop of the year Thursday, as bond interest rates
continued to rise amid worries about inflation and international
unrest.
<bold><color><param>0000,0000,FFFF</param><bigger>Nasdaq Approves Plan
For Late Trading
</bigger></color></bold>Playing the stock market may become prime-time
entertainment as soon as September, with investors trading shares of
3Com Corp. while watching ``Third Rock from the Sun'' on TV.
<bold><color><param>0000,0000,FFFF</param><bigger>Stockholders Forge
Oil Giant Exxon Mobil
</bigger></color></bold>Stockholders of Exxon Corp. and Mobil Corp.
Thursday overwhelmingly approved combining the two companies to create
the world's biggest investor-owned oil company.
<bold><color><param>0000,0000,FFFF</param><bigger>U.S. Economy Slower
But Still Vigorous
</bigger></color></bold>The U.S. economy grew slightly less vigorously
in the first quarter this year than previously thought, the Commerce
Department said Thursday, partly because of a swelling trade gap.
<bold><color><param>0000,0000,FFFF</param><bigger>First Union Adjusts
EVEREN Deal
</bigger></color></bold>U.S. regional bank holding company First Union
Corp. Thursday said it would adjust the terms of its deal to buy retail
brokerage EVEREN Capital Corp., to make up for a sharp slide in its
stock price.
<bold><color><param>0000,0000,FFFF</param><bigger>Northrop To Buy
Allegheny Unit
</bigger></color></bold>Northrop Grumman Corp., the nation's
fifth-largest defense contractor, said Thursday it would buy a unit of
Allegheny Teledyne Inc. to boost its strength in making unmanned
military air vehicles.
<bold><color><param>0000,0000,FFFF</param><bigger>Medtronic Profits,
Sales Surge In Quarter
</bigger></color></bold>Medical device maker Medtronic Inc. said
Thursday its fiscal 1999 fourth quarter earnings rose 9.9 percent
before charges on a 16.7 percent revenue increase driven by strength in
its pacemaker and defibrillator products and its neurological and
spinal product lines.
<bold><color><param>0000,0000,FFFF</param><bigger>CA Beats Street On
Strong Sales
</bigger></color></bold>Computer Associates International Inc. Thursday
reported stronger than expected fourth quarter earnings after
Internet-driven demand for its corporate computer network software
stoked sales.
------------------------------------------------------------------------
</bigger></fontfamily> _
_____________________________ _
/ )| http://www.pitbull.com |( \
/ / | http://www.stocktables.com | \ \
_( (_ | http://www.wwfn.com | _) )_
(((\ \>| /-> <<-\ |<</ /)))
(\\\\ \|/ / INFO 949-949-9064 \ \|/ ////)
\ / ORDERS 800-491-9951 \ /
\ _/ FAX 949-643-8312 \_ /
/ /| mailto:wford@xxxxxxxx |\ \
/___/ |_____________________________| \___\
|