MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 674.96

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To: bobby beara who wrote (57728)	8/3/2000 4:23:19 PM
From: Haim R. Branisteanu	Read Replies (1) of 99985

BB, I find today's NAZ action outright worrisome. The amount of market volatility of around 10% intraday swings, and the reasoning behind it (which is none) only proves that there is to much money floating around and we are getting closer to a unforeseen disaster. There was little reson to drop 5% at the open as it was little reason to move 5% up from yesterday close. Fact is that the whole issue of TECH demand arrived to a saturation point and there is inflation but that does not stop market speculation. The churning rate is very high and all mutual fund holders will be hit with a substantial tax liability by the end of the year. Trades are senseless and only to facilitate stock manipulation. The CSCO issue and the 56,000 puts being a clear example. BWDIK Haim

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