MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

4:00 PM EST

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To: HairBall who started this subject	5/16/2001 2:22:48 PM
From: t2	Read Replies (1) of 99985

It looks as if the situation I was expecting did materialize...maybe a bit late although yesterday was still positive. The market got over-shorted leading up to the FED meeting was my assertion. Everyone and their grandmother expected a big selloff on the news; having already placed their short bets ahead of time OR having just sold ahead of the FED. Since everyone expected it...it obviously can't happen. (actually I was doubting myself yesterday) The bad AMAT earnings might have been a short covering signal and may have actually been a blessing for the bulls. It gave the market a push higher. The other factor may be that mutual funds or institutions got a chance to look at their cash positions that were earnings nice money market rates and what this aggressive Fed is going to take the incentive in staying in cash away. Over 2 trillion. That is a lot of cash that may barely make returns above the inflation rate in the coming months...and therefore not as attractive an investment. Now all we need is a bad earnings report out of Hewlett Packard tonite and we should get another lift.<ggg>

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