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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 668.73

+1.5%

Nov 24 4:00 PM EST

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To: bobby beara who wrote (82667)	2/27/2002 9:25:15 AM
From: KymarFye	Read Replies (1) of 99985

"but now are homebuilders topping because rates are going up, or because that part of the economy is going to cool or both?" IMO: both. Plus the stocks are likely to top out ahead of the actual homebuilding market, of course - take the money and rotate - you know the drill. Should have done the math - didn't notice how close the Dow was already to a a new post-9/11 high - could even happen today if the Dow-exuberance gets out of control (or if the naughty techs help out). In addition to actually checking the chart, duh, probably shoulda thrown some weasely hedges into my previous post - "continue to make major new highs" or whatever - when talking about the Dow. Should also have added that in most cases the 9/10 levels HAVE held, so far - a factoid that on its own ought to be good enough for a bounce and, with just a little huffing and puffing, a move out of this steep and sturdy down-channel... and into a range or at worst a slower flop...

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