MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.28

-0.5%

Dec 1 4:00 PM EST

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To: HairBall who wrote (14249)	5/17/1999 10:19:00 PM
From: James F. Hopkins	Read Replies (1) of 99985

LG; Looks like a GAP down in the morning is set up, then a wait and see on the FED, what ever knee jerk the market does on that news will be short lived ( unless there is a rate hike ) , but even a rally on good news will not go very far, today's activity in spite of the late rally still cost a lot of people a lot of money, and the average price for the day was not good at all. Also the bullishness left just after 3pm , while she didn't sell off the Market Makers shorted for the Gap down, on top of that Futures dropped right at the close shutting out the sell programs. CNBC and all the pundits are going mad trying to do damage control so their sponsors can distribute more stock before the fall. This market will not make any real new highs until rates go down, so even if the Fed don't jack rates up, they are still to high for the price of tulip stocks. The crossed sword has not fixed itself , until it does the market is in trouble. Jim

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