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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

+1.6%

Nov 10 4:00 PM EST

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To: James F. Hopkins who wrote (33812)	11/19/1999 7:26:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

Jim, <<MSFT may be worth $50 not sure if that much, but what it's worth and what it sells for are not related.>> couldn't agree more. note that the CBOE put/call ratio hit an all time one-day low of 0,41 today. the Rydex ratio likewise sits at an all-time low. equity call volume hit an all time high today, with more than 1,2 million contracts traded. the 10-day TRIN sits at 0,71. VIX is below 20. this is the most euphoric market ever in other words. it's quite possible that a sharp retracement will begin soon...whether it's Monday or a few days hence doesn't really matter. but such extremes in sentiment always result in a period of sobering up. apparently this blow-off has conquered the majority of doubters by now. regards, hb

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