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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

4:00 PM EST

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To: donald sew who wrote (1850)	12/15/1998 8:10:00 AM
From: dennis michael patterson	Read Replies (2) of 99985

Don, on the Impeachment proceedings. One has to wonder why this NOW becomes an issue when the following two propositions have been true for months: (1) Clinton would be impeached in the House; and (2) the Impeachment would fail in the Senate. From what I can see, both propositions remain true. Therefore, nothing has changed. Ergo, there must be some other explanation for the market's drop, as the Impeachment explanation is not plausible. Possible explanations include: (1) lack of mutual fund inflows due to distributions, (2) cycles called for a pullback, only magnitude was not known, and (3) portfolio managers locking in profits. By my read, the turn is here. Let's see how the (current) Maz 100 stocks do. I note, finally, that the internet stocks have done well. Amazon is about to post a new all-time high.

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