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Strategies & Market Trends : Classic TA Workplace
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To: AllansAlias who wrote (43057)6/25/2002 3:38:51 PM
From: marginmike  Read Replies (2) of 209892
 
Because good news is sold. The Economy obviously is recovering, Housing is booming. Yet the stocks that should go up are not. Also TNX treasuries wont back up. In 99 all bad news was bought, now we have the reverse. Qcom Has been whacked for weeks about rumors about channel stuffing, and China Unicom problems. Yet when the confirmed none of these were issues, the stock was sold? It was already at a 52 wk low and at a pretty fair valuation(not cheap fair). I also suspect there is intervention taking place, in Currencies, Bonds, and Gold, and probably stocks. Intervention never ends well, and is a sign of complete desperation. Look at GOLD, US dollar, TNX and equities and watch one feed off the other. I am becoming VERY pessimistic that we will see the Summer rally until we hit much lower levels.
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