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Politics : Idea Of The Day
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To: GROUND ZERO™ who wrote (23288)2/6/1999 9:36:00 PM
From: Cyrus  Read Replies (5) of 50167
 
GZ
With the market internals being what they are I agree with a correction, which may not hurt anyway as a buying opportunity. One of the realizations of the previous week was that the economy in the US is not as week as economists had thought, as Ike says that will increase profits. The other sign that the world may be coming out of the hole is a marked increase in commodities (except oil) this is typically one of the first signs that the global economy is turning around.
With England lowering interest rates last week,that puts
pressure on other major countries to either lower their rates or slow their economies. Greenspan typically does not control growth, which appears to be the slant many are trying to put on the fed. We may finally be pulling out of this global situation, one can only hope!
Some longer term thoughts on the markets. I cannot see the market reaching new highs in the second half of the year with the Y2K fears. May will be fearful and pulling liquid assets out. In the last ten years only 97 provided anything in the way of a correction in the
first half of the year.
I think if we do not reach new highs in the first half we will not see them at all. As for the A/D line we may see the indices diverge from it the way we saw equities and bonds decouple in recent years. Many people are interested in equities but mostly only the brand names.
Some weekend rambling!
Any thoughts would be appreciated
As you say if none of this comes to pass, I did not write this post!
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