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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.43

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To: John Pitera who wrote (4794)	1/28/1999 2:08:00 AM
From: James F. Hopkins	Read Replies (1) of 99985

John; This is why we started down today. biz.yahoo.com They expected the Fed to move and it didn't ! MSFT, and the Nutz are all that is holding up the market, THE AGM money flow data late DEC and Early Jan looked odd to me, well I think I just figured it out, a lot of this last run had to be on Margin. ( hot air ) cheap short term borrowed money..if money don't get cheaper and cheaper to borrow, she won't hold this for long. We put in a top NOV 23rd the market just don't know it yet, they can't hold stock on borrowed money but so long, unless the rates fall. The Fed fund rate is critical right now or some one has to sell. If the 13week coupon goes up just .09% more we are headed SOUTH. I don't see a BK yet, but I do see 8500 on the DOW, Thursday is not a good day for a rally either.. Jim

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