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To: 16yearcycle who wrote (61903)6/11/1999 11:27:00 AM
From: Sarmad Y. Hermiz  Respond to of 164684
 
Eugene,

>> I'm surprised bonds didn't strengthen this am,

The nets are complicated. I don't pretend to say anything new. Just a rehash. Their price depends much more on sentiment (analysts, funds)
than on any immediate economic data. GST always says net prices were driven by liquidity. I just don't have enough knowledge to understand that. So anyway, Analysts are emphasizing negatives these days. They are nothing new. But they were not mentioned a few months ago. I think they don't see the funds buying yet, so they come up with reasons why the weakness will persist. I keep thinking this is a conspiracy to drive prices lower, just as there was a conspiracy in March to drive prices higher. Otherwise why no re-its or upgrades when everything is 50% off ?

The surprising thing to me is that prices are not collapsing. It means there are no big sellers. I have been saying for a long time that prices will turn up only when funds start to buy. I think the price is right for them. Just not the time, yet.