Message-ID: <1914494.1075858387381.JavaMail.evans@thyme> Date: Thu, 26 Apr 2001 14:05:00 -0700 (PDT) From: sneal12@mindspring.com To: scott.neal@enron.com Subject: Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: "scott neal" X-To: X-cc: X-bcc: X-Folder: \Scott_Neal_Jun2001\Notes Folders\All documents X-Origin: Neal-S X-FileName: sneal.nsf Don't comfort yourself by saying things are better for the Dow. Right now, half the earnings of the Dow comes from just six stocks -- Minnesota Mining and Manufacturing, IBM, Johnson & Johnson, ExxonMobil, Merck and United Technologies -- and most of those are defensive. So the Dow is functioning as a lagging indicator of the failing economy. The Nasdaq is a far more sensitive barometer. Don't ignore it just because it's giving you a weather forecast you don't like.