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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.53

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Nov 20 4:00 PM EST

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To: Lee Lichterman III who wrote (7563)	3/5/1999 9:03:00 AM
From: Ramsey Su	Read Replies (1) of 99985

Lee, kind of off topic re the employment numbers. It is interesting how the market and the media not only built up a total nonissue of these employment reports, they never bothered to read and understand the remifications. The rise in payroll came in the construction sector while manufacturing, again, is losing ground. Construction jobs have one of the highest multiplier effects, something in the order of 4 if I remember correctly. On the other hand, it is one of the top industries with wild swings based on economic conditions. Aside from what this data may do to the market, what it is telling me that when the US economy finally slows down, it is going to be one ugly recession. Ramsey

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