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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

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Nov 26 4:00 PM EST

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To: pater tenebrarum who wrote (20971)	7/23/1999 5:35:00 PM
From: James F. Hopkins	Read Replies (3) of 99985

HB; The rotation is nothing but fumbdums wiggling to try and unwind , first one sector then the next then back. The dollar is the key if it falls we follow. about 3 to 4% more and a margin squeeze kicks in. Don't forget the dollar was tied to last years fall and the money swapers got a 27% discount when it bottomed. Has nothing to do with earnings or the CNBC type hype, it's all in liquid and currency swaps. Need a TOBIN tax on money swaps or the big investment bankers are going to clean everyone's plate. Jim

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