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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: The Phoenix who wrote (5635)1/29/2000 8:30:00 AM
From: Tommy Dorsey  Read Replies (3) of 9427
 
Gary, yes all three short are over and I surmise that the NYSE is also over and the OTC could be too. It amazes me how investors focus so much on the fed now when if they only looked to other interest rate indicators they would have known and wall street would have know what was coming. Interest rates really don't have much to do with anything now a days because Mr. Jones just "figgers" he'll make that quarter of half percent rise, up by noon in RHAT. It's the money supply that no one looks at anymore that is the important thing and this is what will get us into trouble.
Greenspan wants 50billion out now without crashing the market. You will see how serious he is about curbing investor enthusiasm by watching the money supply which at this writing is still rising. Now think about this for a second. The dow 20 bond average gave us, and I mean this thread a sell signal feb.4 1999. That was way before Mr Greenspan raised any rates. ie. bond average looking ahead. Now Greenspan gets serious about raising rates and possibly the 20 bond average gives a buy signal at these low levels. The problem there for stocks is there has been a decoupling of stocks and bonds for some time now and it might mark the top of stocks for a while and the bottom for the financials that took such a beating going with bonds. Have fun in Tahoe big guy. and let me know when that thing we were talking about is going to materialize. T
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