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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 694.04

+0.7%

Jan 9 4:00 PM EST

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To: pater tenebrarum who wrote (43987)	3/24/2000 11:48:00 PM
From: Greg Jung	Read Replies (2) of 99985

heinz, the so-called "broad" market of late is probably the symptom of last-minute IRA contributions going into mutual funds. After 4/17 we can't contribute from 1999 allocation and we have a whole year to get the cy2000 contribution in. Hence the typical pause and stall of the market after mid-april. Last few weeks have an undercurrent of this broad funding but there is a pile of speculative frenzy money that seems to be sloshing from one end to the other. So once a sector gets saturated it stops moving and the money seeks another sector. Once they ALL get saturated then we get the OTC:BB run up. After a dose of reality, with PALM, MSTR, and biotech degradation, we're ready to party again so go with your old buddies, Cisco and MickeySoft.

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