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Non-Tech : The Critical Investing Workshop

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To: Voltaire who wrote (16573)4/29/2000 6:32:00 PM
From: Jim Willie CB  Read Replies (3) of 35685
 
I think the Naz rally now underway is somewhat a fake

it will define and form a strong base foundation
which will be crucial in summer when Fed is about done with their illadvised dismantling of economic growth

I think a portion of what we see with the Naz now is a reflex rally
it is based upon relief that the worst is over
it is based on shorterm perceptions of "cheap stocks"
it is powered by tremendous cash on sidelines
I doubt it has sustaining power for several consecutive weeks

it is not looking forward a few months to excessive tightening by the Fed

just my thoughts
/ Jim
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