MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: sargent who wrote (51878)	5/23/2000 11:12:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

nope, we're past that already. anyway, a return to the upper channel boundary in the 50-55 area would imply another 60% hair-cut or so from where we are now, depending on how earning growth progresses and how fast we drop. note, i'm not saying we'll get there....but it can't hurt to keep an open mind. the chart clearly shows that recent years have been an anomaly in historic terms. some of that may well be justified due to the growth prospects for tech, but certainly not all of it. in fact i think we'll get a barrage of propaganda aimed at boosting confidence if this slide doesn't stop soon. whether that will help remains to be seen. it didn't in Japan. (i know, this is different...<g>) regards, hb

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