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Strategies & Market Trends : MDA - Market Direction Analysis

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To: bobby beara who wrote (37336)	1/13/2000 1:18:00 AM
From: Jack T. Pearson	Read Replies (2) of 99985

Unless the market gets some good news on Friday, I think it will be much easier to make money selling short than going long. I am sobered how many "hot" stocks have poked down through their trading channels: QCOM, CMRC, CLRS, BVSN, VERT, ASKJ, AKAM, . . . And of course AOL and MSFT were on their way seriously down well before the AOL/Time Warner news and the Microsoft Break-up rumor. I think the interest rate hikes will continue until Fed moral improves. The problem is, it takes 4 to 6 months for the effect of a rate hike to become effective in the economy (vs 2 seconds in the markets). Therefore, IMHO, the Fed will over-correct this year. It is the classic control system problem where sampling and control are much quicker than system response.

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