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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.97

+0.1%

Nov 7 4:00 PM EST

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To: Gary Burton who wrote (38152)	1/26/2000 7:05:00 PM
From: Crimson Ghost	Read Replies (2) of 99985

Gary: As you know I am not an E waver. My take is somewhat unique. I agree with Heinz that there are big differences between the US market today and Japan in 1989. Their whole market was a bubble back then. Here we have a huge bubble in tech and big cap growth stocks. But much of the market remains reasonably valued. We probably have seen the peak for tech but not for the rest of the market. I am looking for a big drop in tech and a modest drop in the rest of the market the next few months. Then a rebound in the second half focused on value stocks. Dow and S&P probably will make new highs but NAZ will not even come close. The new mantra -- buy bonds and value stocks on weakness. Buy oil stocks after crude takes a hit. Sell NAZ rallies. And get ready for a big turnaround in gold.

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