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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 652.56

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To: Johnny Canuck who wrote (32235)	5/11/2001 5:39:05 PM
From: j g cordes	of 68156

The strong retail sales figures are not the result of a stregthening economy and the bond market's reaction will prove wrong. Free money is being generated by home refinancings made possible by low interest rates. How low? Low enough that the 30 year mortgage has actually gone up from demand despite lower Fed funds. Instead of paying down principles' on mortgages and credit, its being used to spend on all the nonsense our mindless society finds so essential. The debt chicken will come home to roost and lay an even bigger egg.

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