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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 679.70+0.7%4:00 PM EST
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To: el paradisio who wrote (62261)11/12/2000 11:57:15 AM
From: Shtirlitz  Read Replies (1) of 99985
 
"I can't imagine a piece of a good news that will support the market right
now."

How about this:

Speculation that Fed will come in to the rescue. Economy has obviously slowed down to the levels even below what Fed was targeting.

It would make sense to speculate that the Fed might start easing. To soften the fall in the markets and prevent panic. (Wouldn't that be more like soft landing, then allowing the markets to crash here, devastate consumer confidence, scare off domestic and foreign investors, and let the economy to die ? )

Even if the rates won't be cut on this oncoming meeting due to uncertainty with elections. (Fed will try to stay away from politics), the market may still speculate, that rates will be cut on the next meeting.

All this political "turmoil" is BS. Sooner or later it will be resolved and US will have a president. Markets move based on economic reasons.

Those who are selling for political reasons will regret big time, when the situation will be resolved after the overseas ballots come in (sometime after Nov 17) and the market starts a "releif rally"

Indexes do not reflect the level of carnage that happened in the market over the past 8 month.

In any case I'm a buyer at these levels.
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