The Daily Dow
Monday, September 23, 1996
by Robert Sheard

LEXINGTON, KY. (September 23): If today's any indication of what's in store tomorrow when the Federal Reserve Open Market Committee meets to determine its monetary policy for the next few months, I think someone better make sure the Fed has a license to operate its new thrill ride.

The market opened sharply lower this morning as traders got more and more nervous about tomorrow's meeting and others were finishing up whatever's involved in their Triple Witching Options games (the rules of which I admit freely I understand not at all). But later in the day, the market bounced back and the Dow actually managed to close higher, for another new record.

So, what's this sound and fury mean for us as Dow investors. Precious little in the long term. As for company-specific news, there wasn't any today, with the exception that Kodak's CEO is among the short list of candidates recommended by AT&T's top executive to be considered as his successor.

Except for 3M, which remained flat, and the virtually meaningless position in Imation (3M's offspring), it was a good day for the Foolish Four. Chevron and DuPont were up modestly, but Kodak jumped by more than a buck a share. (If this is related to the possibility that Kodak may lose its CEO to AT&T, you got me what the logic is!)

Make sure you're not watching the ticker tape tomorrow if you're faint of heart. No one knows for sure what to expect, but I'll bet if Vegas laid odds on things like volatility, the over/under would be astronomical. I plan on burying my head in a book or an old newspaper tomorrow so I don't have to watch. (Since I'm out of Pepcid, it's either that or finish the hole in my stomach that's already started!) Stay Foolish and keep tomorrow in perspective, whichever way the market turns.

Transmitted: 9/23/96

      THE FOOLISH FOUR MODEL (9/23/96)  

           Day    Week  Quarter  Year  History
Fool-4    0.55%   0.55%  5.60%  19.39%  19.39%
DJIA      0.11%   0.11%  4.25%  15.20%  15.20%
S&P 500  -0.08%  -0.08%  2.36%  11.45%  11.45%
NASDAQ   -0.67%  -0.67%  2.23%  15.14%  15.14%


Bought  #    Stock     In At   Now   Change

1/2/96  142  DuPont    69.88  86.88  24.33%
1/2/96  380  Chevron   52.38  62.50  19.33%
1/2/96  148  E. Kodak  67.00  76.38  13.99%
1/2/96  149  3M        63.76  70.00   9.79%
7/16/96  14  Imation   26.16  24.88  -4.90%

Bought  #    Stock          Cost       Value      Change

1/2/96  142  DuPont      $9,922.25  $12,336.25  $2,414.00    
1/2/96  380  Chevron    $19,902.50  $23,750.00  $3,847.50    
1/2/96  148  E. Kodak    $9,916.00  $11,303.50  $1,387.50    
1/2/96  149  3M          $9,500.09  $10,430.00    $929.91   
7/16/96  14  Imation       $366.21     $348.25    $(17.96)  

      CASH      $1,524.50      
      TOTAL    $59,692.50      



Transmitted: 9/23/96

      
      

      
      

        

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