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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 662.72+0.4%4:00 PM EST

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To: donald sew who wrote (33204)11/11/1999 6:40:00 PM
From: pater tenebrarum  Read Replies (2) of 99985
 
Don, i agree the statistical viability is a bit questionable, however, there is another strong contrary signal in the form of the industry's unbridled optimism. it often marks peaks in the cycle. currently the earnings of the group are actually still below the '95 level, though improving. the stocks of course, are two to five times higher, depending on the issue. so they already discount excellent news between now and the hereafter approximately <g>. i believe the slightest disappointment by one of the major players could derail the sector considerably.

regards,

hb
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