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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 694.04

+0.7%

Jan 9 4:00 PM EST

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To: Haim R. Branisteanu who wrote (34273)	11/28/1999 1:44:00 AM
From: Lee Lichterman III	Read Replies (2) of 99985

Agree with all your points but the spin is still in full throttle. Heck CNN was hyping internet X-mas sales every 15 minutes, then Clinton even joined the party saying to pull out the credit cards and buy everything on-line. The Sheeple can not resist since they blindly follow anything on TV. Every time I think this market can't go up anymore, I get up early on a Sunday and flip through the evangalists reading off teh names of those that sent in checks to be "saved". Heck I wouldn't buy a used car from any of the faces I see on the TV and these people send them cash for their souls? Heck, we could be at NASDAQ 5000 by 3 Jan. I don't expect anything too big as far as drops yet if nothing else, just game playing into the millenium. They will hold this up anyway they can, even if they have to use 100% pure helium. After the new year and a final short squeeze to take out those betting on a 2000 meltdown, I think they will finally let it go. As for the short term, I am expecting a sector rotation out of the NASDAQ soon and into the DOW and SPX stocks to pretty them up for the new year. We all know this is just a game now and no longer a real market. The big boys will want record numbers on all the indexes for the new year. There just isn't enough money to do all three at once so a rotation will be necessary IMO. Good Luck, Lee

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