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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 672.07-1.7%4:00 PM EST
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To: Gersh Avery who wrote (69470)2/18/2001 1:31:26 PM
From: American Spirit  Read Replies (3) of 99985
 
I agree AG will be supporting the market. You hit the nail on the head. Consumers must keep spending. Or the whole world economy sinks. The US is the world's great consumer nation. Also the fall in techs may simply be a re-valuation process which may be complete or close to it. Certainly when look at the new prices (down 60-98%) PE's and book values relative to cash, assets, value, revenues etc. it's hard now to find any case for techs going lower unless the world-wide recession AG should be helping us avoid actually happens. Therefore I expect another rate cut in the next week or two. And another one at the March Fed meeting. But it's AG's call not mine.
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