Had you noticed second derivative is now negative for
MS growth??? Trend will probably accelerate IMHO. Couple that with
flattening, to potential neg., 10yr/3mo yield spread and this
market is in definite trouble. I now have my largest short
position in place since Oct.17,1997 and of course will
watch it very carefully. Let's see how this market reacts
in anticipation of, and in response, to the weekend.
MONEY STOCK
Percent change at seasonally adjusted annual rates
from 13wks
ending: M1 M2 M3
26-Jan-98 Oct. 27, 1997 (13 wks.prev.) 2.6 6.8 10.2
July 28, 1997 (26 wks.prev.) 1.4 6.8 9.7
Jan. 27, 1997 (52 wks.prev.) -0.9 5.7 8.9
16-Feb-98 Nov. 17, 1997 (13 wks.prev.) 3.3 6.9 10.7
Aug. 18, 1997 (26 wks.prev.) 1.4 6.9 10.2
Feb. 17, 1997 (52 wks.prev.) -0.7 5.8 9.1
23-Feb-98 Nov. 24, 1997 (13 wks.prev.) 3.7 7.1 10.4
Aug. 25, 1997 (26 wks.prev.) 1.5 7.0 10.1
Feb. 24, 1997 (52 wks.prev.) -0.6 5.8 9.1
2-Mar-98 Dec. 1, 1997 (13 wks.prev.) 4.1 7.3 10.8
Sep. 1, 1997 (26 wks.prev.) 1.5 7.1 10.3
Mar. 3, 1997 (52 wks.prev.) -0.5 5.9 9.2
23-Mar-98 Dec. 22, 1997 (13 wks.prev.) 3.9 7.8 11.3
Sep. 22, 1997 (26 wks.prev.) 1.9 7.3 10.7
Mar. 24, 1997 (52 wks.prev.) -0.1 6.2 9.5
6-Apr-98 Jan. 5, 1998 (13 wks.prev.) 2.5 7.8 11.0
Oct. 6, 1997 (26 wks.prev.) 1.9 7.4 10.9
Apr. 7, 1997 (52 wks.prev.) -0.1 6.3 9.6
13-Apr-98 Jan. 12, 1998 (13 wks.prev.) 2.5 7.9 10.9
Oct. 13, 1997 (26 wks.prev.) 2.1 7.5 11.0
Apr. 14, 1997 (52 wks.prev.) 0.1 6.4 9.7
20-Apr-98 Jan. 19, 1998 (13 wks.prev.) 2.7 8.2 10.9
Oct. 20, 1997 (26 wks.prev.) 2.3 7.6 11.0
Apr. 21, 1997 (52 wks.prev.) 0.3 6.4 9.7
27-Apr-98 Jan. 26, 1998 (13 wks.prev.) 2.2 8.4 10.8
Oct. 27, 1997 (26 wks.prev.) 2.4 7.7 11.1
Apr. 28, 1997 (52 wks.prev.) 0.4 6.6 9.7
4-May-98 Feb. 2, 1998 (13 wks.prev.) 2.0 8.6 11.1
Nov. 3, 1997 (26 wks.prev.) 2.5 7.8 11.2
May 5, 1997 (52 wks.prev.) 0.5 6.7 9.9
11-May-98 Feb. 9, 1998 (13 wks.prev.) 1.7 8.5 11.1
Nov. 10, 1997 (26 wks.prev.) 2.4 7.7 11.2
May 12, 1997 (52 wks.prev.) 0.6 6.7 9.9
18-May-98 Feb. 16, 1998 (13 wks.prev.) 1.5 8.4 11.2
Nov. 17, 1997 (26 wks.prev.) 2.5 7.8 11.3
May 19, 1997 (52 wks.prev.) 0.7 6.8 10.0
25-May-98 Feb. 23, 1998 (13 wks.prev.) 1.1 8.1 11.1
Nov. 24, 1997 (26 wks.prev.) 2.4 7.7 11.3
May 26, 1997 (52 wks.prev.) 0.8 6.8 10.0
1-Jun-98 Mar. 2, 1998 (13 wks.prev.) 1.6 8.2 11.4
Dec. 1, 1997 (26 wks.prev.) 2.9 7.9 11.3
June 2, 1997 (52 wks.prev.) 1.0 7.0 10.1
29-Jun-98 Mar. 30, 1998 (13 wks.prev.) 0.2 7.4 9.7
Dec. 29, 1997 (26 wks.prev.) 1.8 7.8 10.5
June 30, 1997 (52 wks.prev.) 1.1 7.2 10.1
6-Jul-98 Apr. 6, 1998 (13 wks.prev.) 0.3 7.1 9.0
Jan. 5, 1998 (26 wks.prev.) 1.5 7.7 10.2
July 7, 1997 (52 wks.prev.) 1.1 7.2 10.0
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