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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 681.89+0.3%Oct 31 5:00 PM EST
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To: KeepItSimple who wrote (43593)3/19/2000 1:39:00 PM
From: Les H  Read Replies (1) of 99985
 
There was a big drop in new lows (-80) on the NYSE just before the ramp up day on Wednesday. It looked they were planning on marking up these stocks regardless of what happened. It seems it's usually the large banks and brokers getting bought up just before the event. This is the second time in three months I've observed this phenomena, probably occurs all the time. At least, this time a lot of smaller bank stocks also got bid up.

As for the Fed, I expect they'll raise the discount rate at least 25 since the spread is at 50 basis points now.
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