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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: t2 who wrote (81131)	8/2/2001 12:46:27 AM
From: Berney	Read Replies (1) of 99985

I would be one of those. If you listened to the ML idiot that caused this insanity today, he started the conversation by stating that he heard no inclination of improvement in business from the companies he was talking to. Pray tale then, why his entertaining call? As noted before, the FA sucks, continues to suck, and will continue to suck for (at least) the next two quarters. However, as also noted, this too shall pass. One of the best quotes I ever heard was from Art Cashin (hope I got it close): - paraphrased - it is good to bet against the end of the world. IMHO, this NDX rally is real and (big if) IF it gets through 1760 could go to 1860. However, from an FA perspective, when we get to the reality check of the September earnings warnings, we could well view these levels with a fond memory. We will shortly be in a position to judge. Berney

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