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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: epicure who wrote (13778)	5/13/1999 2:44:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

X, uncertainty is good for the market. as soon as everybody agrees that there is no more uncertainty, the bull market will be over. unfortunately Rubin's resignation has not contributed greatly to uncertainty, on the contrary, one analyst after the other seems to crawl out of the woodwork with a bullish read on the market. a little shake-out now would greatly enhance the possibility of higher prices later, as some of this bullish sentiment needs to be taken out. keep in mind that all those bullish analysts were very bearish both at the october low and at the end of the feb./march consolidation. that they change their mind now is ominous. as for Rubin's departure, it is a non-event. larry summers is a more than capable replacement. i see no reason to believe that the fate of the economy or the stock market would depend on the presence or otherwise of a single man. no-one is irreplaceable as the resignation of fed chairman Paul Volcker has shown. regards, hb

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