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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: SBerglowe who wrote (50059)	5/9/2000 11:52:00 PM
From: bobby beara	Read Replies (3) of 99985

>>>>The belief is that we are awash in a sea of liquidity and that money must by its very nature find its way into stocks.<<< Susan, that idea is a popular delusion, the mcCllellan's use the oscillator and the summation index as a measure of liquidity entering the market (unfortunately, they as all top analysts are bullish at the top, just like all the wsw elves -g-) the weakness in the summation index is a sign of a lack of liquidity entering the market, this index peaked in 1997. i was just going over the bond charts, the five year note and the 30 year note just ran it stiff resistance areas and are very oversold, the 3 month bill gapped to a new high. on 4/11 (which lead into the 14th crash) we had a one day mini-yield inversion of the 3 month bill and the 30 year bond. as of today we are at 59.6 on the 3 month, and about 6.2% on the 30 year, watch these yields closely. i hate when oj goes bearish and i'm short -g- (maybe this time is different -g-) b

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