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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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To: patron_anejo_por_favor who wrote (50403)	5/11/2000 10:44:00 PM
From: Techplayer	Read Replies (3) of 99985

patron, Pardon my intrusion, but your doom and gloom post sparked a couple of thoughts. Wages are higher, profits fueling the wealth effect are still out there and net gains for the market are still much higher than they were a year ago. there is still plenty of cash out there. I read earlier that we are still significantly above the 20 month moving average for the Nasdaq, a sign that the bull has not been broken. Also, re: "In late March and early April, we saw increasingly rapid rotation between the Nasdaq Comp and the Dow/S&P", the same exact thing happened last year at this time. all of the pundits were out touting the cyclicals, increased inflation, decreased productivity and the end of the bull run. they were all obviously dead wrong. I for one do not know what is going to happen in the intermediate term but I do not see any reason why the techs (at least the leaders with real earnings and profits) will not continue to flourish once the slower summer months have passed. for the record, the same pundits called for the popping of the internet bubble last spring as well... all imo. tp

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