Duke Energy, Dominion Resources, Fleet Financial, Parkway Properties and Schlumberger. Don Hays at Wheat First Union says the market will follow the same path in 1999 that it took in 1998. The strength is in the flooding of the money supply by the Fed. Hays is worried about a resurgence of global turmoil. China could devalue its currency.
Japan has yet to prove it can turn itself around.
Canada and Mexico, the biggest U.S. trading partners, face an economic slowdown. Hays says to especially avoid high-flying technology and financial services stocks. I've been bruised too many times in my life.