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The Daily Dow ST. PETERSBURG, FL. (July 24): It probably gets predictable what I'll say here from day to day, especially on light news days. (I hear rumors that bookies are taking bets on which Foolish maxim I'll pull out of my belled-cap on any given day.)
The only news story for the Foolish Four today was DuPont's earnings release, which beat Street estimates by a couple of cents per share. Before one-time events, DuPont posted earnings of $1.84 per share compared to estimates of $1.82. This by itself isn't enough to move the stock much, but the company also commented that it expects a stronger second half than in 1995 and the market bid the stock up 3.5% on the day.
Okay, get out your betting slips ... here comes the Foolish maxim: the gooroos are out in force predicting everything from an oversold rally to the start of a genuine bear. What's a Fool to do? Ignore them, of course. If you're a Dow investor, you're not asking what's going to happen tomorrow or next week. Ask yourself where you think the market will be in five or ten years. That's the question which should guide your investment decisions. Even Michael O'Higgins at his bearest worst isn't going to convince me that the market will be lower in five years than it is today. Fool on!
Transmitted: 7/24/96
Today's Dow Numbers THE FOOLISH FOUR MODEL (7/24/96) |
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