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Politics : Idea Of The Day

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To: J.T. who wrote (23285)	2/5/1999 1:07:00 PM
From: Judy	Read Replies (3) of 50167

Well, JT, the strong economic numbers today was just what was needed to tip the market's gradient down. Institutions will shift away from high PE stocks since strong economic numbers imply the Feds need to raise rates to cool the economy off. Greenspan will testify next week and browbeat the market, next Fed meeting will be in six weeks. Market will chop around with a downward bias in anticipation of the Feds raising rates. Perfectly consistent with the market completing a rounding top. That SCI will miss earnings added fuel to the fire. That's why the boxmakers and semis are tanking. Bears can claim victory and I'll be there buying again, certainly before the inflow of liquidity from IRA funds in April.

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