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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: Jacob Snyder who wrote (37464)	1/14/2000 2:40:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

the answer is, you can't. the bond got dumped again today, but i'd still be a buyer at those levels. sentiment on bonds is way too bearish right now...in fact the data are very much at historical extremes. since the sentiment readings on stocks are at the exact opposite end of the spectrum, it is a reasonable expectation that both markets will soon reverse. Robin Mesch who does studies on bond trading volume at various levels recently argued that 6,97% would be a reasonable target for the yield on the long bond...we're getting pretty close to that. if Greenspan were to aggressively raise rates on the short end, bonds should begin to get a bid on the expectation of an economic slowdown. the question is of course, will he? so far the Fed is more talk than walk...<gg>

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