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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 674.96

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To: Terry Whitman who wrote (22957)	8/13/1999 10:46:00 AM
From: pater tenebrarum	Read Replies (4) of 99985

Terry, sure, i don't trust these data one bit...there is just too much anecdotal evidence that contradicts them. however, what does that matter? the market takes them as an excuse to rally, in fact recently the market has pounced on every morsel of good news to rally sharply. that means to me that we are likely to go a lot higher still, as the money sitting on the sidelines will gradually be drawn back in. it's all about liquidity and momentum, rational argumentation is completely futile, as the bears have discovered the hard way over recent years. as super bull Joe B. of Gruntal states in the first sentence of his latest research report: "once again, the market defies logic...". how true. regards, hb

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