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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

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Nov 21 4:00 PM EST

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To: Haim R. Branisteanu who wrote (19598)	7/7/1999 6:26:00 PM
From: Stephen	Read Replies (2) of 99985

Haim, I think the corporate accounting used and lack of follow-thru by analysts & media covering the reporting numbers is one of the cornerstones of the continuance of the bull market. I haven't played earnings for a couple of years .... I think I shorted CYMI, COMS & GTIS that qtr ... and they all went up after earnings. The numbers were terrible and there were lots of write-offs/one time charges. ... but no-one cared to look behind the headline number. Course ... they fell sometime after .... but it took a few weeks/months when reality hit. Stephen

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