Since we last wrote on April 13, the market continues to crush the Bears. The high-tech's were supposed to go into disfavor, but look what happened: Cisco was up 1 3/16 Tuesday and 3 today and Microsoft was down 3/16 Tuesday and up 2 15/16 today. Sure, Intel was down 1/4 Tuesday and 11/8 today, but two out of three is still pretty good. Street talk now is that investors are "looking past" current earnings and focusing on anticipated improvement later in the year. Translation: Bull Shit. Don't believe it. What's happening now is still the same old story - there is still one hell of a lot of money pouring into the street, and we're still in a favorable interest rate and low inflation mode.

As you look for suitable stocks to buy, assuming you know your risk tolerance and can afford to stay invested for 5-10 years, you should try to know as much as possible about 15-20 stocks that you are interested in, and that you understand. Then when you have available funds to invest, there is a fair chance that one of these stocks will be selling at a good price per your personal tracking. There is no substitute for doing your homework, including following stock prices on a daily basis. Next time we'll have a few stock recommendations. Stay tuned.

The Market Pro - April 15, 1998