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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: yard_man who wrote (12757)10/4/2004 12:32:22 PM
From: mishedlo  Read Replies (2) of 116555
 
From Hunnj on the FOOL
In late 1999 AG was desperate to pump up liquidity in front of the Y2K problem, touching off an enormous bull run.

M3 rocketed up $44 billion last week. Late 1999-like growth.

The QQQ's have now gapped up on the open two days in a row.

In 2004, is he desperate to get W reelected? Or to avoid something else?

The QQQ's touched the upper 50DMA 2.5SD Bollinger Band today. This typically only happens in cycical bulls or in a last gasp before a bear run.

Even in bull markets, a touch of the upper 50DMA 2.5SD BB, has always set off an overbought correction within a few days -- except in the last half of 1999.

So, there's a good chance we'll know in a few days if AG has managed to blow yet another bubble.
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