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WHEAT, FIRST SECURITIES CHIEF INVESTMENT STRATEGIST SAYS GET INTO THE MARKET BEFORE NEXT WEDNESDAY

 RICHMOND, Va., June 25 /PRNewswire/ -- Don R. Hays, chief investment strategist for Wheat, First Securities and its Butcher & Singer division, is recommending that every investor needs to get off the sidelines and into the market by Wednesday, June 30. What's so special about June 30? Hays says, "The July 4 holiday marks a strong seasonal period, and we need to be poised to take advantage of changing market conditions. All the indicators point to the fact we have ended the second phase of a beginning bull market and are on the verge of beginning the most exciting phase -- the third."
 Hays has very clear reasons for why now is the time to be in the market and believes this message is the most important of his 25-year career. He says several economic happenings support his convictions. Historically, May and June are very slow months. However, with most companies due to report earnings within the next two weeks, Hays is anticipating that earnings will be better than expected -- as they have been over the previous six quarters.
 From an international perspective, Hays cites the fact that France has lowered interest rates for the seventh consecutive week, and on Wednesday, June 23, Germany followed suit. Hays fully expects the Japanese economy to be in stronger recovery during the next 12 months -- based on the tremendous fiscal and monetary stimulus being applied.
 From a domestic perspective, Hays recalls that the first phase of a bull market always begins with recession fears and the Fed's dropping of interest rates. He cites typical second-phase conditions that start to reflect a modest pick-up in the overall economy. He is anticipating that by February or March of 1994, the third phase will be culminating into a full-fledged market led by a much stronger economic expansion than currently expected with the Dow topping 4,000.
 Hays' current position in his Asset Allocation Model is the aggressive purchase of small cap growth stocks.
 -0- 6/25/93
 /NOTE: Hays will be hosting a teleconference on Wednesday, July 7, describing in detail his reasoning that the country is entering a time in the market that will catch many people unprepared. Media wishing to participate in the call can contact the Wheat Corporate Communications Department at 804-782-3336, or leave a message on the Hays Call voice mail number, 804-782-3722. You will be contacted with a time and an 800 number for the call./
 /CONTACT: Barb Henderson, 804-782-3534, or Don Hays, 804-782-3295, both of Wheat, First Securities/


CO: Wheat, First Securities ST: Virginia IN: FIN SU:

DC-KD -- DC005 -- 5639 06/25/93 10:03 EDT
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Publication:PR Newswire
Date:Jun 25, 1993
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