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Non-Tech : XXXXXXX
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To: MythMan who wrote (932)9/17/1997 1:13:00 PM
From: Joseph G.   of 2563
 
J,

<< This market is sick to be bid up over a .1 miss on cpi. >>
IMHO, it was to a large degree technical. The bonds were testing resistance (suport on % - 50DMA, etc), and then story comes that Buffet is a big buyer. Very astute timig, it was known he bot for a couple of weeks, but the story hits the mass media just as resistance is tested. Emboldened buls buy, scared shorts cover, the rest is history. A day or two later people ask self - why the hell did I buy?

J+
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