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Politics : Ask Michael Burke

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To: Earlie who wrote (86919)	12/17/2000 11:19:55 AM
From: James F. Hopkins	Read Replies (1) of 132070

Earlie; There are some of us who said get out way back In FEB. & March. The market don't trade on "earnings" if it did it would never have went so high to start with. The market trades on "liquidity" & "credit" what you want to keep an eye on is. search.news.yahoo.com The repos add liquid, and back before 2000 span dumped liquid in the market with his left hand as his right hand increased rates. The liquid won out over the rate hikes until he stopped and then started taking the flood of dollars he put in , back out. The hand outs to the central banks via the repo thingy just dried up. Look at he above link and youll see he started back around Nov 15 and is slowly getting more aggressive in his adding of liquid this is something that don't seem to make the headlines. There is one other signal that I think you maybe missed finance.yahoo.com the first two are junk bond funds which have took the worst beating in years..but you see that cup at the end. They actually peaked in 98 and that's when a stealth bear market started when they failed to get back to their old high in 99 and then sold off anyone who knows anything about credit would have been alert to problems in the wind. ---------------------- The last one is high grade short term bonds. finance.yahoo.com it bottomed in MAY, and is now saying that a rate cut is in the wind. If both the junk bonds and short term bonds continue to go up from here earnings won't matter at all, and stocks will start to climb the wall of worry. The bond traders are better at what they do than stock traders also the total bond market is much larger than the stock market & it will always be a leading indicator. --------------- If they sell back off then we are in for more bad times if they don't shorts better be ready to cover. If repos get more aggressive then shorting is like fighting the FED .. AND BTW blow off tops are caused mostly by shorts who get squeezed out not by crazy buyers. After they knock off the shorts then the market falls until they can get em back in, it looks like they want as many shorts in right now as they can get, but let Spam do a few more 28 day repos biz.yahoo.com and then cut rates and he will have his bear trap set. Jim Jim

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