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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: sandintoes who wrote (5072)	2/18/2005 4:58:11 AM
From: Walkingshadow	Read Replies (1) of 8752

When is good news bad? When the market defies logic and common sense and declares it so. New claims for unemployment fell to the lowest level since October 2000. Greenspan gave a positive assessment of the economy in congressional hearings: "economic fundamentals have steadied ... with inflation and inflation expectations well-anchored." In fact, Greenspan judges that the economy is so good that further interest rate hikes rates are necessary. This is hardly a surprise to the market. True, it is not clear how far the Fed will go, and whether it might overshoot the mark, as it has sometimes done in the past. But even when this has happened, it has been corrected. And so, the clearly positive economic data and affirmation of the health of the economy result in---the markets selling off across the board. I think this defies logic and reason, and provides further evidence that the market perception has lately become skewed towards fear-driven bearishness. IMHO, this must get worse before it is transformed into sustained optimism and bullishness. T

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