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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.17

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Dec 11 4:00 PM EST

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To: HairBall who started this subject	4/5/2001 10:44:30 AM
From: brunn	Read Replies (1) of 99985

Good explanation of this bubble crash and why markets have fallen in the face of declining interest rates: the influx of individuals distorted the historical valuation parameters that institutions had used to validate buy and sell decisions. Individuals' "never sell" attitude, coupled with their gigantic buying power, augmented by margin, took multiples to levels that made it so when the slowdown hit, stocks were nowhere near where they should have been at typical trough multiples. dlj.thestreet.com

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