Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: dennis michael patterson who wrote (6972)	5/4/2001 9:01:19 AM
From: Paul Shread	Read Replies (1) of 52237

Hey, I said that two days ago. <ggg> I guess the good news is Heinz's next big turn is May 15; how far can we fall in two weeks (don't answer)? That was an absolutely abysmal number. I wouldn't rule out 75 bp on May 15. 50 is a given and will disappoint at this point. This is a recession; can't be avoided at this point, IMHO. Yesterday's non-mfg NAPM was the no-turning-back point. It's going to be awfully hard to keep it from spreading further. But as you pointed out yesterday, is it possible for everyone to know we're going into a recession and still have it happen? I believe one of the signs of the later stages of a bear market is that everyone is aware of it; it's just hard to believe that the market and economy can keep falling after everyone is aware of it, BWDIK. It is interesting that everyone knew of the importance of the resistance that the market turned back at; another odd development, because you would think the big boys would drive the market through there to get everyone long. Maybe this pullback is just a headfake, as Iso said. Great Fed piece from John Berry this morning: washingtonpost.com

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