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Strategies & Market Trends : Classic TA Workplace

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To: mishedlo who wrote (128099)	1/15/2006 9:26:27 AM
From: skinowski	Read Replies (1) of 209892

This is good stuff... and funny... ;) Stocks were rising as the FED was hiking and the pundits were saying that hikes showed the economy is strong so "buy stocks", now we we are supposed to buy stocks because the fed is about ready to pause. If and when the FED cuts the message will be "buy stocks". No matter what the situation is, the message is constant "buy stocks". While your economic argument is interesting, from a trading POV -- ANY reason to buy stocks is a good reason - for as long as stocks keep going up. And they have been going up - albeit, in a slow, grindy, choppy fashion. Those who feel differently, please recall that SPX is only about 10% higher than where it was in early 2004 -- and less than 60 points up from March 2005 (with the DOW being totally flat). IMO this divergence between the perception of being in the midst of a great bull market - and the relatively meager reality - is in itself fascinating... and probably important.

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