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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.38

+0.1%

Nov 12 4:00 PM EST

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To: Joan Osland Graffius who wrote (46876)	4/16/2000 11:38:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

Joan, i liked Japan around Nikkei 14,500. i was 1,700 points early, but still, the abject pessimism that reigned in Japan was a good reason to think it would be a decent long term buy. right now i'm a little bit disturbed by the fact that everybody's extremely bullish on Japan while its economy continues to be mired in a recession. true, stock market bottoms are made during recessions, but the current optimism on Japan calls for at least a retracement of the bull move. well, it's retracing as we speak...:) regards, hb

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