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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.910.0%Nov 14 4:00 PM EST

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To: Les H who wrote (6831)2/22/1999 6:18:00 PM
From: Moominoid  Read Replies (1) of 99985
 
Lately there has a secondary top before the bull run is over for each 9-month
run. December 96/March97, July 97/October 97, April 98/June 98, January 99/?, etc


That is exactly what I have been seeing and expecting before the BK on Y2K/Japan and whatever worries + realization that profit growth outside of a select few stocks is not good and that those select few such as DELL are way over valued. Was just looking through BWs latest "business scoreboard" which really puts the point home on stocks like Gilette or Coke which have very high PEs and zilch in growth.

Monday's move was a bit of a surprise but still within the trading range.

David
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