Enron Mail

From:1.14166227.-2@multexinvestornetwork.com
To:chris.dorland@enron.com
Subject:January 14, 2002 - The long and the short
Cc:
Bcc:
Date:Sun, 13 Jan 2002 23:37:44 -0800 (PST)


In today's edition of the Daily Update, we feature two perspectives on
the economy from a pair of independent thinkers. Charles Payne, principal
analyst of Wall Street Strategies, takes a wide-ranging view of market
conditions and identifies individual stocks and sectors, as well as key
support levels. And chartered financial analyst William Valentine tells
investors about seven economic indicators he believes are key
bellwethers.

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Members like you should take advantage of our exclusive relationship
with Morgan Stanley and register for the firm's free research trial.
Today, our focus is on PG&E (PCG), which it calls an "attractive
utility turnaround play."

Today, we also feature a pair of broker reports focused on healthcare:
an overview of the pharmaceutical industry from CIBC World Markets and
a biotechnology company under review by Stephens, Inc., and more.

You can also link directly to our research page, which features synopses
of broker and free reports, by clicking here:
http://www.multexinvestor.com/article.asp?docid=5918&;nd=0114

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Below
--------

- Investment ideas
- Broker and third-party research
- Online advice and chats
- Free and sponsored reports


Investment ideas
-----------------------------------------

1. INVESTMENT IDEAS
The long and the short
Economic factors that will impact the market and investors--and vice
versa

By Charles Payne, principal analyst, Wall Street Strategies

Last year capped the worst two-year stock tumble since 1973-1974, and
effectively eliminated all the hype and hope that mobilized individual
investors during the late 1990s. (Although it is unlikely that the
individuals who remain in the market continue to expect the returns of
yesteryear, investors probably still expect too much from the broad
market.)

Today, investors are understandably concerned about the market, and are
leery of chasing stocks. However, there will be a time during the year
when you've just missed the boat (as most missed it last year). And I'm
just as sure that something will test the resolve of the market--an event or
series of events that will send stocks tumbling.

However, I think it is a big mistake for investors to wait for it, or to wait
for some type of testing of the bottom. By the same token, however, I
think it is still important to take profits and maybe be a little more
flexible with stops. I suspect that after two years of depression, this
market will still suffer from bouts of mental instability. Let those bi-polar
moments work for you. There are tons of funds on the sidelines waiting
to chase this market. Keep a steady head, don't panic, and stop worrying
about the worse case scenarios. Fundamental change cannot happen until
we see a change of mind among investors.

Below are my thoughts on leading economic indicators, market trends,
my picks of the year, and some sector ideas.

Click here to read more.
http://www.multexinvestor.com/article.asp?docid=5906&;nd=0114


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2. INVESTMENTOR
Economic check-up
Seven economic indicators that point to a mid-year recovery

By William Valentine, CFA

Going to the doctor is not always a pleasant experience, but it's always
good to get a check-up. I'm reminded of the contrasts of such
experiences by the goings-on around the Valentine household. In the
same week that we're going to see our healthy in utero baby on an
ultrasound monitor, my Labrador retriever is going to see the doggy doc
in order to have his sireship extracted.

And it's with these visuals (you're welcome), that I lead you to my point
about check-ups and the economy. For it's time to check in on my "Big
Seven" indicators in order to see whether we'll get the mid-year recovery
that everyone seems to be counting on, or if this check-up leads to a dog-
on forecast.

Click here to read more.
http://www.multexinvestor.com/article.asp?docid=5913&;nd=0114



Broker and third-party reports
-----------------------------------------


1. INVESTORS' CHOICE: 3-DAY FAVORITE
The 451 discusses Cisco's (CSCO) new focus on the mobile wireless
market.

This report examines IP infrastructure spending, the next-gen
Internet and network architecture layers, Cisco's strategic
alliances and mobile business customer targets, and advanced e-
services and content applications. (2-page report for purchase -
$5)
http://www.multexinvestor.com/download.asp?docid=5676705&;nd=0114


2. TODAY'S SPECIAL REPORT
Lehman Brothers explains why it sees Ma Bell as 'buy.'

Lehman takes a comprehensive look at T, with analysis of the
various parts of the company including business and consumer services,
detailed coverage of the pending broadband deal, and an overall
valuation opinion. (13-page report for purchase - $50)
http://www.multexinvestor.com/download.asp?docid=5711628&;nd=0114


3. EDITOR'S PICK: CURRENT RESEARCH FROM THE CUTTING EDGE
Bear Stearns publishes its January buy list for investors.

In total, the firm's analysts identify over 250 stocks in 63 industries
and 8 broad economic sectors it considers worthy of buy-list status. No
commentary here, but the report includes basic data including market cap
and earnings info. (13-page report for purchase - $50)
http://www.multexinvestor.com/download.asp?docid=25927715&;nd=0114


4. THIRD-PARTY REVIEW
Standard & Poors offers its investment opinion on home improvement
giant Home Depot (HD).

S&P provides its investment assessment on HD, including an
overview, valuation analysis, and business summary. Also, an industry
outlook, peer group comparison, as well as Wall Street consensus
estimates for the stock. (5-page report for purchase - $5)
http://www.multexinvestor.com/download.asp?docid=407776&;nd=0114


5. WHAT'S HOT?
Stephens, Inc. discusses the regulatory hurdles facing ImClone's
(IMCL) Erbitux cancer drug.

Stephens provides an updated on the situation, including what it
feels the chances are that the drug is approved (and when), why the
approval process may be more difficult than first thought, and a new
valuation analysis on IMCL. (4-page report for purchase - $10)
http://www.multexinvestor.com/download.asp?docid=25945177&;nd=0114


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strategies: http://www.multexinvestor.com/Analysts/HomeTTA.asp

To be sure you receive your TTA newsletter every week, click here:
http://www.multexinvestor.com/login.asp
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Online advice and chats
-----------------------------------------


1. ASK THE ANALYST
Schaeffer's Research's Bernie Schaeffer explains why
he believes "bull market talk" is premature.

Noting the inability of the Dow Industrial and S&P
500 indices to break through their 40-week moving
averages, Schaeffer explains why it's too early to be
calling a bull market. Feel free to ask him questions
through today, Mon., Jan. 14, 5 PM ET.
Ask the analyst.
http://www.multexinvestor.com/AskTheAnalystForm.asp?&;nd=0114

Prepare for the investing week ahead with Bernie's
insight to the hottest sectors and stocks. Sign up below
for Bernie's FREE e-weekly market report, Monday
Morning Outlook. Click here
http://www.schaeffersresearch.com/redirect.asp?CODE=GB01A8&;PAGE=1


2. ASK THE EXPERT
Multex.com's Alan Cohn explains some of the ways
Americans will benefit from new tax laws.

Citing aspects of new tax rules relating to individuals
over 50, education, and estate taxes, Cohn shows how
a wide range of citizens will benefit. How do the new
laws affect you? He can take your questions until
Thurs., Jan. 24. Ask the expert.
http://www.multexinvestor.com/AskTheExpertForm.asp?&;nd=0114



Free and sponsored reports
-----------------------------------------


1. FREE RESEARCH REPORT
CIBC World Markets reports the latest from the pharmaceutical
industry.

CIBC briefs investors on the latest sector news, provides
regulatory and FDA approval updates, and looks at drugs in development
and drug collaborations. This 8-page report, which usually sells for $25,
is free to members for the next 72 hours.
http://www.multexinvestor.com/download.asp?docid=25934259&;nd=0114


2. DAILY FREE SPONSOR REPORT
Morgan Stanley sets a $26 price target on "outperform-volatile"-rated
PG&E (PCG).

The firm argues that PCG is an "attractive utility turnaround play" with
plenty of upside potential. Register for the firm's free research trial to
read more about key investment positives and investment risks inherent
in this stock.
http://www.multexinvestor.com/download.asp?docid=25036405&;sid=8&nd=0114


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