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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: Stephen who wrote (1931)12/15/1998 6:53:00 PM
From: SteveDavis  Read Replies (3) of 99985
 
Stephen,

This impeachment process could very possibly give us a huge buying opportunity. When Trent Lott was asked when the Senate would take up the hearings he answered Jan. 6 and it would take 3 days or 3 weeks. The most likely scenario is after the vote on Friday to impeach the senior members of the Democratic party ie, Gephardt, Daschle and Lieberman will go to Clinton and tell him he has to resign. If he refuses they will remove him from office very quickly. the market likes the divided government so nothing changes. Gore will not be able to get any bills passed without Republican help so the market is safe.

If anyone thinks that OPEC raised oil prices because of Nixon doesn't know what the hell he is talking about. That was a nationalistic and religious step that had been brewing for decades. If it wasn't for oil these guys would be walking around the desert with camels delivering salt. Oil is their ONLY resource with any value. Their entire economy is based on it.

I have not seen any Senator say he would not vote for impeachment if presented with the facts. They don't want the vote but they will remove him in a NY minute. Remember, Clinton has no friends in the Senate.

Steve Davis
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