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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (17225)	6/14/1999 11:16:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 99985

BB; I'm not up to speed on bonds , but they are getting jerked around more than ever , money monkeys more bold all the time, more volatility in the currency markets, & bonds trade just as much on currecy swaps & swings as they do interest rates. In fact the interest rates are more the result of the bond trades than the cause, you have trillons of dollars being swaped and no one minding the store. They filp bonds after they flip the dollar one against the other, no one thought rates would get so low last year, not one person I know of predicted it, & when they get moving to extrems one way they may go the other, so I'm not going to buy anyones prediction and just wait and see. I do know when crap like this starts they dam sure have a chance of making 7% or even 8%..I'v seen it happen and not all that long ago. I sure won't predict it but nor will I rule it out. Jim

To: bobby beara who wrote (17225)	6/14/1999 3:48:00 PM
From: j.o.	Read Replies (1) \| Respond to of 99985

Good call on rates, Bobby - we have more than reached our targets for this upmove in terms of wave length. And now we're seeing what looks to me like a minor "blow-off" in the rates. There are some heavily bloodied hedge funds out there, and they are all having to take their hits at these levels. Usually when that sort of excess gets squeezed out, we have a nice recovery. I know that things look pretty bad now, but I am starting to take on a position from here, and will add to it if we show convincing signs of a top. I am being a little greedy in shorting bonds now, so I'll probably get taught a lesson <gg>. I am just now back at home after 1 week on the road. I will try to give my view on the overall equity picture later today. Hope all is well! j.o.