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Dow 30 Market Timing
By Kenneth Coleman
Exxon's name has been changed to Exxon Mobil. Its new symbol is
XOM. Allied Signal was removed from the Dow 30 and replaced by Honeywell.
I guess you might say Christmas came early this year. The usual
Christmas rally comes no earlier than around mid-December. This
year's rally got off to a magnificent start on December 2nd. The
rally was not just a local affair. Most of the rest of the world
joined in as well. Germany's Dax Index was up 3.1%, as well as France's
CAC 40, Brazil's Bovespa and Mexico's Bolsa. The S&P 500 also scored
a record high.
For the first time since May the NYSE Money Flow Index gave a
buy signal. The markets here and abroad have been buoyed by the
U.S. government employment report. It registered hourly wage employment
gains that were lower than expected. The government's monthly jobs
report showed only a miserly 0.01 percent rise in hourly wages.
Even so, the unemployment rate held at a 29-year low of 4.1 percent.
The consensus by market analysts is there is much less fear of another
interest rate hike any time soon. In fact, many are looking to March
as the next critical month for any Fed action on interest rates.
[Editor's Note: Ken's comments & Dow recommendations were made 12/3/99.]
| Corporation |
Symbol |
Phase |
| Alcoa |
AA |
2 |
| American Express |
AXP |
3 |
| AT&T |
T |
2 |
| Boeing |
BA |
4 |
| Caterpillar |
CAT |
5 |
| Citigroup |
CCI |
3 |
| Coca-Cola |
KO |
3 |
| Disney |
DIS |
2 |
| DuPont |
DD |
4 |
| Eastman Kodak |
EK |
5 |
| Exxon |
XON |
2 |
| General Electric |
GE |
4 |
| General Motors |
GM |
3 |
| Hewlett Packard |
HWP |
2 |
| Home Depot |
HD |
3 |
| Honeywell Inc. |
HON |
3 |
| IBM |
IBM |
2 |
| Intel Corp. |
INTC |
5 |
| International Paper |
IP |
4 |
| J.P. Morgan |
JPM |
4 |
| Johnson & Johnson |
JNJ |
4 |
| McDonald's |
MCD |
4 |
| Merck & Co., MRK |
MRK |
4 |
| Minnesota Mining |
MMM |
4 |
| Phillip Morris |
MO |
3 |
| Proctor & Gamble |
PG |
3 |
| SBC Communications |
SBC |
3 |
| United Technology |
UTX |
2 |
| WalMart |
WMT |
4 |
|
| Phase Suggested |
Action Suggested |
Phase |
Action |
| 1 - 1-1/2 |
Cover Shorts |
5 - 5-1/2 |
Sell |
| 2 - 3 |
Buy |
6 - 6-1/2 |
Sell Short |
| 3-1/2 - 4-1/2 |
Hold |
7 - 7-1/2 |
Hold Short |
[Editor's note: Ken Coleman is the country's only "Investment
Tracker." He tracks all the money flowing into & out of the total
investment spectrum of G7 nations. Due to his unprecedented timing
predictions using money flow analysis, he, like Larry Oakley, is
in Who's Who in the World in Finance & Industry. He is editor of
Kenneth Coleman's Investment Tracker newsletter. Call him at 760-720-0107
or call the publisher at 800-380-2891.]
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