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Strategies & Market Trends : Steve's Channelling Thread
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To: Zeev Hed who wrote (17308)6/7/2001 10:50:06 PM
From: Mike M  Read Replies (3) of 30051
 
Zeev, there are some pretty unique things about this market. Not the least of which is that the FED has not only been more accommodative than any time I can remember but also members have jawboned their support in a likewise manner. I will grant you that it's because they are worried, but, we are not revisiting 1929 unless there is a drastic change in priorities by the central bank. And, it doesn't look a darn bit like '73-'74...The differences with '66 to '82 are significant as well.

I realize we have a supply and demand imbalance. It is, however, too early to determine whether the economy can avoid recession next year. I can just about guarantee it if the FED wills that we avoid it...

The thing is Zeev for the time being we have momentum going forward and I think some companies are ready to explode. MSFT just broke through 73 resistance for instance...I will not be surprised to see it run to 100 over the next few months. I think the correction, which I still believe is coming, is further down the road and I am not yet convinced that it goes below 1600. I am positive that it won't happen this year.

Many stocks will attain irrational exuberance status but fighting this ocean of liquidity and looking for a crash is counterproductive. IMO.
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