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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: Joan Osland Graffius who wrote (68055)	1/30/2001 11:03:11 PM
From: Zeev Hed	Read Replies (1) of 99985

Hi Joan, long time no see. That debt (as well as our trade balance which is getting out of hand) is one of the reasons that I "see" a relatively long period in which the markets are in a broad trading range. Sufficient time for "reliquification" of the system and for valuations to come in line with earnings (which are still going to grow as the economy grows over the next few years). Zeev

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