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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject5/16/2001 2:35:03 PM
From: besttrader   of 37746
 
14:30 ET Dow +250, Nasdaq +64, S&P +27.27: [BRIEFING.COM] In terms of monetary policy, the markets ostensibly got what they
wanted yesterday. The Fed eased by a half point for the fifth consecutive time and threw in comments suggesting further rate cuts are likely.
Nonetheless, yesterday's reaction was lukewarm at best with each of the major averages favoring the flatline. Today's delayed reaction is
much stronger with the Dow gaining 200+ points on a move that has taken the index over the 11,100 level. Investors are weighing a number
of factors here. Corporate performance continues to be mixed at best and there are notable pockets of industry which are failing to
demonstrate a recovery. Yet markets typically move after the third in a series of rate cuts which has many investors feeling comfortable on
the long side following a fifth consecutive cut. Seasonality cuts in both directions -- equities generally underperform in the period of May
through October which favors a sideline approach over the next couple months. Yet the current timeframe of mid-May through July is
typically favorable for equities as a Summer rally commonly ensues. It's worth noting many investors would throw out the seasonality
contention altogether this year as the most recent "favorable period" of October through April resulted in massive equity losses. DJTA
+0.8%... DJUA +0.4%... SOX +4.7%... XOI +0.5%... BTK +7.4%... Nasdaq 100 +4.2%... S&P Midcap 400 +1.6%... Russell 2000
+1.1%... NYSE Adv/Dec 1965/1058... Nasdaq Adv/Dec 2088/1603.
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