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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

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Nov 14 4:00 PM EST

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To: Haim R. Branisteanu who wrote (14391)	5/19/1999 6:12:00 PM
From: Stephen	Read Replies (1) of 99985

As I was watching TV in the kitchen (the market seemed to be going no where .. so why not have an early lunch GG...) it appeared that the market rallied on the CNBC 'breaking news' that Rubin hasn't changed his opinion about the US economy (though later, after the market had closed, they footnoted the screen with 'Rubin says need to watch for inflation). Maybe I'm wrong ... but the market was looking for direction ... though what they saw in Rubinspeak is beyond me. If he had said that the Fed needs to be watchful of inflation when the camera's were on him I suspect the market would have gone down. Just my opinion ... which maybe clouded by my hunger at the time (GG)...... If the long bond rallied on short covering it may weaken tomorrow - but it was an interesting day. Intradays looked like the big boys were supporting the market to avoid any sell-off ... but my signals were mixed ... mostly weak till end of day ... which I missed and haven't checked. Stephen

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