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Technology Stocks : Dell Technologies Inc.

DELL 133.20

+5.7%

Nov 26 3:59 PM EST

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To: stock bull who wrote (134495)	6/24/1999 9:56:00 PM
From: Tommy Dorsey	Read Replies (2) of 176387

Stock bull the bond markets have alread spoken months ago. AS I mentioned it is the Dow JOnes 20 Bond Average you must watch for early warnings of rate changes. It has not failed us yet. ITis long term also. This index gave a clear sell signal February 4 of this year. WE discussed this at length that day in our report. The play was sell bonds at that point and if you go back to FEb. CNBC I said it then. The long bond is over 6 now and probably going to 7 before it is all over. I don;t think Greenspan's 1-4 increase will scare any Americans from eating out, buynig more computers, buying cars etc. I think the economy can perk along with higher rates. Money supply is very high as Greenspan has been flooding the economy with money to the tune of 2000 for every living person in America. Money with Zero Maturity has been steadily rising for the last two years. Wall Street might be programmed to sell on a rate rise butit will provide opportunity. Actually over the last couple of weeks our most important indicator the NYSE Bullish Percent (calculation of percent of stocks on NYSE on P&F buy signals) has been rising. This is good Also it usually takes two steps in rates before a market stumble. What is most important is not to anticipate the anticipators. We can discuss this all day and I enjoy it but the final decision is whether the market is creating net new buy signals or net new sell signals. This will dictate whether the market rises or not. If the NYSE Bullish Percent reversed into O's on the chart signalling net new sell signals are in control we lose the ball and go to defense. Why we lost the ball is not important, what is important is that we have the right team on the field. Don't get too wrapped up in Greenspan, it is more important to manage your postions effectively and teh rest will take are of itself. Tom

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