MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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To: el paradisio who wrote (77542)	5/29/2001 1:10:29 PM
From: t2	Read Replies (1) of 99985

It is the supply that is coming to market that they are concerned about--ipos, convertables, corporate bonds etc. Their belief is that inflows will be insufficient to soak up the new supply. However, cash takeovers, company stock buybacks help stock prices...need to see more of this..according to them. I don't believe this takes away much from investment in stocks but it is a negative being played out at the opportune time...warnings season. I am sticking with a intermediate term bullish (to about July) case but uncertain very short term period. Once the market stops drifting down, I believe that the direction will be up as we get into mid June period. Nasdaq 2500+ by no later June 30.

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