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Politics : Idea Of The Day
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To: James Strauss who wrote (22022)12/20/1998 11:04:00 PM
From: J.T.  Read Replies (3) of 50167
 
James, Market to commence short term Clinton relief rally and final continuation of window dress year-end rally. This is TA "rarified air" as SOX poised to continue solid advance to 375 while COMP and NDX continue to new highs. TRAN and BKX come late to party. If Dow can have few closes above 9000, then 9600 is doable by end of January. Beyond that is a market headed for a heavy hang-over. Market is greasing perpetual bulls into nirvana. New Paradigm thinking....... WHY???....Fundamentals showing weary signs of cracking with NAPM crawling along for several months, weakening job growth as evidenced by JNJ, BA, other majors etc, hourly earnings stuck in mud, and consumer confidence waning. Without consumers fueling the economy going forward, the market gets stopped dead in its tracks. A mood of retrenchment is a market self-fulfilling prophecy. BUT FOR NOW, LETS ENJOY THE PARTY TIL IT'S 1999. "TA RARIFIED AIR". I'M OUT. J.T.
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