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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 681.43+1.6%Nov 10 4:00 PM EST
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To: Monty Lenard who wrote (4615)1/23/1999 1:51:00 PM
From: Haim R. Branisteanu  Read Replies (1) of 99985
 
Thanks Monty, If you use a linear chart we are at support and on the trendline. I you notice from the NYSE chart we are at support and to many people are observing the same.

To make a inflation adjusted linear chart just multiply each month prices by 0.9975 to adjust for 3% inflation a year. Still this do not justifies today's levels.

Now just imagine that you are a fund which must be fully invested all the time - e.g. an Index fund which is quite popular not only with Joe6Pack but also with pension funds and insurance companies. the reason stock picking failed for the last couple of years.

Now my logic is that those folks want to buy on the cheap and let prices drift to lows and then collect the shares needed. they are judged for their performance by closing prices.

There is a lot to argue about which is right or wrong, but I was proven in teh past that going only based on TA you can loose substantial money.

Many WS and big funds know quite well TA and use it to their advantage in buying on the cheap.

In general I agree we are set for some sort of correction, and we witnessed a blow-of top in January. Still if 1987 is a guidance it the market topped in August and crashed in mid October.

This summer drift all the dipsters learned to go strong on the dips.

The huge inflow of money and full enployement gives me the problem for a BK.

I think the new "adjustment" of various pension funds will bing to the contraction of the market.

BWDIK
Haim
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