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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 685.69+0.2%Dec 5 4:00 PM EST

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To: Suresh who wrote (25145)2/10/2000 11:13:00 PM
From: dppl   of 68774
 
Too early to call a spade a spade but with the CRB index making an 18 month hi, with a gold rally and a bond inversion, it's worth thinking that the market is saying something quite different from Greenspan - looking out about 6 - 9 months, it is saying that we may be getting very unbalanced. Of course the techs will not take notice for a while - it's momentum - but even with great earnings, the imbalance should signal some good contrarian positions shortly.

Banks are hated, as a result of the bond moves, but this is confusion. Bonds are really saying something that can be positive for banks 6 months down the road: go back to stable earners and dividends.

Hard to act on these signals but they are there.

Thomas
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