MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.83

+0.3%

4:00 PM EST

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To: dennis michael patterson who wrote (21862)	8/3/1999 8:45:00 AM
From: James F. Hopkins	Read Replies (2) of 99985

Dennis; The Dollar bounced up over night, so we will rally strong this morning if on nothing else short covering by the parlay traders, they will want to take profits on their shorts before the dollar gets even stronger. This has already run the futures up rather strong this morning. This sort of knee jerk rally may not last but it could if it sucks in real buyers. More often than not a bottom is put in when the stocks rally before the dollar as that signals longer term buyers. None of that is written in stone, but we will bounce this morning. Jim

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