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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

4:00 PM EST

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To: Joan Osland Graffius who wrote (22904)	8/13/1999 3:58:00 PM
From: bobby beara	Read Replies (2) of 99985

Joan, i believe that we saw a peak (short or long term is a question) in bullishness in $USD and equities as indicated by p/c ratios and sentiment surveys, basically every body was long and thinking the markets were invincible, bears throwing in the towel all over the place, this causes a short term liquidity vacuum, now that everybody became bearish we have funds to drive the market back up. If the market was fully liquid it would sluff off greenspan and would have given the great earnings reports from microsoft and others a nice boost, instead of an almost 20% sell-off in soft. bb

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