MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

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To: HairBall who wrote ()	5/11/2000 6:59:00 PM
From: jmootx	Read Replies (1) of 99985

What would rally stocks after the Fed meeting? I keep hearing that there is this hidden mysterious force called 'liquidity' or cash that is lined up on the sidelines ready to go. If that was the case then why is the market in a viscous correction? Last year my neighborhood produced at least two 'for sale' signs on each street continuously from March to September. There are virtually none this year. One contact has informed me that vacation property sales in the Outer Banks of North Carolina have come to a dead halt. If there is not sufficient liquidity to ramp up the real estate market, how can there be for equities in a rising rate, inflation scared, high valuation stock market? The COMPX chart on a daily basis shows a very broken and unconvinced attempt at a recovery. So what if the Fed raises rates .25 or .50? What leading tech stocks with sequential earnings growth are selling at below 2X their growth rate? The big argument in 1998-1999 was that tech was the perfect investment for a deflationary environment.(Moore's Law) So what tech stocks were booming investments during inflationary cycles, i.e. 1972-1978? Before anyone answers, give indication of the companies PEG in 1972 and its PEG in 1978. Is their any compelling reason to buy anything other than oil service, food, and drug stocks for the next three years? jmootx

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