The first quarter has passed and we have seen 2 major developments.
(1) Narrowing of the U.S. market: share price increases in the U.S. market for a few large, seasoned and favored companies coinciding with actual price declines in most U.S. stocks. Although the S&P 500 was up slightly in the quarter, 63% of all New York Stock Exchange stocks, 47% of S&P 500 stocks, 55% of NASDAQ stocks declined in the first quarter according to Merrill Lynch.
(2) Japan has begun making good decisions to re liquidify their ailing economy. They have guaranteed bank loans and liquidated some . . .
Continue Reading: April 6, 1999
