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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.910.0%Nov 14 4:00 PM EST

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To: Jerry Olson who wrote (52228)5/26/2000 12:42:00 PM
From: Stephen  Read Replies (1) of 99985
 
OJ ... now what happened to the OJ who declared that if AG raised by 50bp it (the bull) was 'all over' ?? ....LOL. I agree that its a trading market ... but then I've thought that for the last couple of years.

As for the interst rate issue ... like the hype put out when the markets are going up, the rate issue is just one of the hype issues for the market going down - fundamentals have meant little in this trading market. And nothing works on an individual basis.

In the intermediate term, peoples habits die hard & its in too many peoples interest not to let the bull die. However, I believe that there has been a fundamental change in the supply/demand equation with all the IPO's & lock-up expirations and with the fed looking to redress the liquidity issue. If that leads to a loss in confidence in the market by the baby boomers & sentiment hardens, there could be a sea-change underway. If the economy slows and the revenue growth comparisons are maxing out for the big techies (not helped by accounting changes for pooling of interest) & the big internets its going to get tough. I'm waiting for the next vehicle ... I think the internet is on shaky ground ... wireless & fibre optics are still looking good.

As for today .... LOTS of distribution ...

Stephen
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