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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 683.47+0.6%Nov 28 4:00 PM EST

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To: Gersh Avery who wrote (5226)2/2/1999 5:55:00 PM
From: Ramsey Su  Read Replies (1) of 99985
 
Gersh, James, Jeffery, Shuo,

I think the market is has such strong support from too much money chasing after so little that I dare to challenge Donald's contention of a slow correction.

The only way this market will correct, in my opinion, is via sharp reaction to global events which are almost ignored at this time. Starting with Brazil, the entire SA will soon be reaction to the Real's recent moves. The most earth shattering news, however, should still be from Japan. With the yen at the 112 level, it can not be maintained indefinitely.

Based I what I saw in Thailand the last 3 weeks, I think an Asian recovery is on the overly optimistic side.

Just my 2 cents.

Ramsey
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