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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.76

-1.1%

Dec 12 4:00 PM EST

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To: Benkea who wrote (22452)	8/8/1999 5:19:00 PM
From: TRINDY	Read Replies (2) of 99985

I'm with you. It is hard to recall such an outpouring of bearishness. Take a look at recent postings in the Top Advisors section (TAC) of decisionpoint.com. Just about every advisor is quite bearish. I'm not suggesting that we will rally to new highs from here, but it wouldn't be surprising to have a week of positive momentum to keep everyone off balance. Don't forget the NAZ is down 11% already, which is deemed a correction. My guess is that next week will be positive and possibly the week after that, but not so much so that investors begin to bet heavily on a huge rebound. As we head into September, things will get dicier. Could be very rough, indeed. I think that the markets are still vastly overvalued and that the piper will one day have to be paid. I side, too, with those who believe that we will have a delayed Christmas recovery in response to Y2K concerns. For now, there is just too much agreement that we are barely upstream of the waterfall. BWDIK. Happy investing.

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