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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.43

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Nov 10 4:00 PM EST

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To: bobby beara who wrote (41812)	2/29/2000 11:10:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

Bobby, for four trading days in a row we are getting record low p/c ratios...the Rydex money market+bear funds/bull+sector funds ratio just revisited its all time low of 0,20, first seen about two weeks ago. i trade a lot of otc BB stocks: the sector is going crazy. completely worthless stocks double in a day's trading as a matter of course now. apparently money is thrown at just about anything. the semi sector is but an example of how crazy things are getting...MU went ballistic today, in the face of a collapse in DRAM prices to close to production costs (64mb DRAM went from $20 to $4 in no time at all...there's a glut of the stuff, and demand growth has fallen off a cliff). a cyclical industry that has just managed to surpass its '95 revenue levels, valued at 4 times its '95 peak... we live in interesting times, certain to get even more interesting shortly. regards, hb

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