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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

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Nov 14 4:00 PM EST

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To: bobby beara who wrote (17447)	6/15/1999 4:45:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

Bobby, perhaps the CPI will prove to be a catalyst for a bond rally. i noticed that a lot of OEX out-of-the-money june puts were bought today as CPI insurance. usually the numbers are benign when this happens. if so, bonds and stocks will rally together and flight-to-quality will not be the motivating force. in that case we may eventually see the blow-off that john bollinger and several others are expecting. somehow the april/may peaks don't feel like long term tops to me due to the market's resilience during this correction. while there are a lot of negatives, there are a lot of positives underneath as well, no wholesale dumping occurs, the money is just shifting around. i don't like range-bound indecisive low-volume markets since they are so hard to read. sometimes, to help me fortify my skepticism, i look at this: decisionpoint.com or at this: decisionpoint.com or i think of the weakness in the brokers... then again the SOX is off to the races, important support trend lines for the indexes continue to hold, the damage in the nutz has not affected the rest of the market too much... if we stay range-bound here and the sentiment indicators continue to improve, another leg up becomes ever more probable. regards, hb

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