MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: bobby beara who wrote (31703)	10/28/1999 2:07:00 PM
From: Haim R. Branisteanu	Read Replies (1) of 99985

BB, this rally smells more as a massive short covering combined with window dressing. The economic data did not warrant such a move from yesterday's lows. the real world inflationary pressure are not reflected in the formal statistics since last April. The economy is starting to soften only now. IMHO the market is interpreting the economic statistics upside down. Hi Tech face substantial weakness retail stores a not better of and the consumer is over his head in debt. Best indicator are memory prices which are below Pre-Taiwan earth quake, and oil which should seasonally being at a price peak now. Softening in the ECI data does not reflect compensation under various stock option plans which is now part of every compensation package. Not to mention healthcare benefits so called "seminars" in lawish places company car and cafeteria etc. The oil weakness indicates a softening in the world economy, as were the recent statistics from Japan. The end of this mania will surprise everyone. BWDIK Haim

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