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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 672.07

-1.7%

Nov 13 4:00 PM EST

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To: Stephen who wrote (4756)	1/27/1999 6:05:00 PM
From: donald sew	Read Replies (1) of 99985

Stephan, >>>>> ML have been negative on the market for a few weeks and didn't call the recent rebound. Their call has therefore not changed too much. <<<<<< The DOW hit its peak at 9650 13 trading days ago, so they have been quite accurate per what you stated that they have said it for a few weeks. I dont think that MERRIL tries to really time the market and the recent rebound really hasnt been that strong if one is talking about the DOW. I think that if the market contiues to show this type of weakness in the sense of ZIG-ZAGGING, even if it doesnt go down further Merrils comments could have some effect on the market, but thats all subjective. All I said was that if MERRIL is right or wrong, I just wont totally discount or underestimate comments coming from that firm. On the other hand, if the market heads straight down hard, I wont say it was caused by MERRIL either. I guess a better way to say it is that their comments and repeating of their comments adds some negativity to the image of the condition of the market. Seeya

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