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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (6442)7/28/2000 11:24:24 AM
From: Bucky Katt  Read Replies (1) of 13094
 
Jim, as I said a few days ago, the intra-day damage in the nasdaq is serious. They just keep kicking out the support beams. That gdp # took the "experts" by surprise today.

They really took APCC out and hung it. Expect more of this type of action in the next few months.....

"U.S. Economy Grew at 5.2% Annual Rate in 2nd Quarter (Update3)


Washington, July 28 (Bloomberg) -- The U.S. economy expanded in the second
quarter at a faster-than-expected 5.2 percent annual rate, as companies built up
inventories and invested in new equipment, government figures showed.

The rise in gross domestic product, the sum of goods and services produced in
the U.S., followed growth at a 4.8 percent annual rate in the first quarter of this
year and 8.3 percent in the final three months of 1999, the Commerce
Department said.

Today's report ``brings into question the whole idea of how much slowing we have
actually seen,'' said Paul Christopher, an economist at A.G. Edwards & Sons in
St. Louis. The data also raised investor concern that Federal Reserve
policy-makers weren't through raising interest rates this year."
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