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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.910.0%Nov 14 4:00 PM EST

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To: Chip McVickar who wrote (16304)6/7/1999 12:52:00 PM
From: Michael Watkins  Read Replies (1) of 99985
 
I agree the .25% is factored in....

I believe that many in the market believe that the .25% is factored in, and that many in the market will expect nothing more than a short term downward blip on the news of a hike, followed by resumption of 'business as usual'.

However, I also believe that many in the market have not yet cast their worry beads towards thinking about *subsequent* rate hikes. I feel that particular worry is not yet factored in to todays prices, and will serve as the catalyst for the capitulation day some of us are looking for!

Michael
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