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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

-1.5%

Nov 20 4:00 PM EST

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To: Chuck Williams who wrote (76405)	5/2/2001 8:08:26 PM
From: FrozenZ	Read Replies (2) of 99985

AS trades on momentum so novl being fundamentally unsound is of no consequence to him. It is interesting to me... AS's pumping is rather like someone in 1930 telling everyone to jump into the market and play the momentum game and ignore p/e's and the economy. It seems offensive to many people not only because most people that did that over the past year have now lost most of their money, but because he's offering no fundamental reasons other than, "hey it's going up, jump on it." Meanwhile the actual news today was, "Industrial activity has continued to weaken, with orders and production having fallen in many districts." -Fed Beige Book

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