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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	5/16/2001 1:26:10 PM
From: besttrader	of 37746

13:05 ET Dow +173, Nasdaq +29, S&P +16.27: [BRIEFING.COM] Notably, the Dow is making new intraday highs with the index trading over 11,000. The current move is taking on the look of a decisive break. Total volume traded is beginning to pick up and now looks like a moderate trading day -- by very recent standards the volume could be considered heavy. Merrill Lynch is out with a call that's somewhat interesting this afternoon. The firm's position is the Fed has pushed the Dow over 11,000 and is supporting capital spending via the equity market and the credit market (corporate bonds). Merrill is turning very bearish on the U.S. Treasury market but is equally as positive on European bonds. In Merrill's view, the Fed wants higher equity prices and is willing to sacrifice Treasury yields to restore capital spending. In other words, rising stocks means rising yields. DJTA +0.5%... DJUA +0.2%... SOX +1.9%... XOI +0.7%... BTK +4.7%... Nasdaq 100 +2.0%... S&P Midcap 400 +0.8%... Russell 2000 +0.6%... NYSE Adv/Dec 1801/1151... Nasdaq Adv/Dec 1867/1673.

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