Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Roger A. Babb who wrote (14160)	9/29/1998 6:55:00 PM
From: BelowTheCrowd	Read Replies (2) of 18691

Roger, At this precise moment in time it appears to be somewhere between #5 and #6. (Personally I don't consider 28 points to be much of a move.) Interesting chat with a couple of DJ News people on CNBC earlier. They both pointed out that the market frequently "gets it wrong" on the day or two after an interest rate change, and that the real trend is not established until a day or two later. They attributed this, in large part, to short term "sell the news" traders masking the overall market direction in the longer term. So I think the jury is still out on this one. Realistically I think even an up move from here is likely to fizzle out around 83-8400. mg

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