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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 692.24

+0.3%

Jan 15 4:00 PM EST

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To: Gary Burton who wrote (64485)	12/17/2000 4:28:59 PM
From: Mike M	Read Replies (1) of 99985

Gary, I am hardly a bull. Nor, do I think that a 25 basis point move will have any lasting effect on the stock market. Greenspan has basked in the glory of being the architect of a very marvelous economy. He would be taking a far more dangerous step to wait until January to unwind the mess that is spinning out of control. Re the market: I subscribe to the theory that these markets are being manipulated. As a result I pay more attention to the manipulation than to tech analysis, since the market no longer seems to have a momentum of its own. If I'm right then perhaps we should be looking for a decline on Monday...The sell off might be for the purpose of margin liquidation/capitulation. This, in turn, may create a great buying opportunity. Sure a 25 basis point drop would be cause for a nice rally but I don't see the NAZ approaching 5000 any time soon.

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