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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 685.66+0.2%Dec 5 4:00 PM EST

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To: Casaubon who wrote (72569)3/18/2001 12:00:19 PM
From: Zeev Hed  Read Replies (1) of 99985
 
Exactly the point I am now tired of making. Further more, Margins at 2% of total capitalization, while high by historical standards, is not the source of excess speculation. It was excess liquidity that did it and the only remedy left to AG was to soak it. Recently, he has been pumping the liquidity side of the equation again (much more than the official interest rates reduction) and that is going to set the stage for another financial assets revaluation and a worst bear market next year, IMTO.

Zeev
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