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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Steve Lee who wrote (15145)12/1/2002 2:36:16 PM
From: J.T.  Read Replies (2) of 19219
 
Some of the outflows in equities has benefited high grade bond funds as reported by amgdata:

10/4/02: 3rd Qtr Equity Fund Outflows ($51.1 Bil) & Taxable Bond Fund Inflows ($43.5 Bil) Largest on Record

Taxable Bond Funds reported record inflows of $43.5 Billion. Government Bond Funds received $31.7 Billion, 73% of the total, while Investment Grade and High Quality Corporate Bond Funds accounted for the rest of the inflows.

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Now the smart money is already ahead of the crowd and moving into junk bonds.

All you have to do is look at the junk bond market screaming higher day after day to see this economy is not going into double dip.

As for the NYSE Members, I suggest you do your homework on the Dean of of Stock market research: Norman Fosback. Then decide for yourself - you be the judge.

I have done my homework. An assistant and I are now researching the NYSE member data prior to the 73-74 bear market and specifically looking at the 30's and 40's on this very subject.

Best Regards, J.T.
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