Present value of $10,000 investment made Jan. 8, 1998, minus fees and commissions. Rates reflect Wednesday close. Copyright 1998 The Meyers Report
The horses ran scared this week, seeing bogeymen at every turn. Specters of the Fed, second quarter earnings, financial troubles in Asia and a widening gap in international trade startled our stalwart stallions. Hardest hit was OTC, who dropped $215 but not his lead. Blue Chip is closing the gap between first and second, with a $50 loss amid bridled optimism. Lipper International rose above national concerns and moved into third with a $16 gain, but stablemate Lipper Mutual lost $46 and dropped to fourth. Gold, holding his own since leaving the gate, gained $17 to remain solidly in fifth. The saver steeds kept their blinders on, seeing and hearing no evil. Running straight ahead, EE Bonds, Money Market and 90-Day CD picked up gains of $10, $10 and $8, respectively, to hold on to seventh and eighth. Investors brought a lot of tickets on 30-year T-Bond, thinking he would be a safe bet on a track of uncertainty, and their bets paid off. Although gaining $77, he's still in ninth. Those who laid money on Silver, thinking he was due, tore up their tickets in disgust. Accordingly, Silver dropped another $316, looking like he's running in glue.