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

To: Haim R. Branisteanu who wrote (18776)	6/29/1999 1:24:00 PM
From: Les H	Respond to of 99985

FOMC: Day 1 Bonds are little changed this morning as the FOMC begins the first of a two-day policy meeting. Thirty-year bonds are up 6/32, yield 6.08%. Two-year notes are unchanged, yield 5.69%. We will receive word of the Fed's policy decision tomorrow. Bewitching hour is approximately 11:15, pacific. Of the 29 primary dealers, (those doing business directly with the Fed), all 29 are looking for a 25 basis point rate increase. It will be important to watch the Fed's statement to see if the bias for tightening remains or has been dropped. This will have an important bearing on market direction. New home sales for May fell 5.1%. Expectations were for a decline of 2.1%. Higher mortgage rates may finally be impacting the housing market. Other factors still remain positive for housing: high employment, strong consumer confidence and a strong equity market. Don't worry, be happy. The Conference Boards consumer confidence index for June rose to 138.4, its highest level since 1968. This was the eighth consecutive rise, the best showing since the early 70's. Expect confidence to remain strong as long as employment is high and stocks are strong. In addition to the FOMC meeting, tomorrow will bring data on leading economic indicators, the Chicago purchasing managers survey and the APICS survey. Have a great day. bonds-online.com

To: Haim R. Branisteanu who wrote (18776)	6/29/1999 5:09:00 PM
From: Eddy Blinker	Read Replies (3) \| Respond to of 99985

Are B&M charts on target? Haim, I agree with you so I am holding on to ECILF. Possible they are holding back with some news until Friday. However I am also still holding a short position in NITE which I held over today even so it went up $4 against me.Will be smoking 40 until Mr.Greenspan will open his bag. I held on because of our forecasts in which I believe. Expensive confidence building this can turn out to be. Both our Dow and the Composite charts show a distinct drop. Dead on target with the date. Naturally we would be happy campers if the forecast turns out to be accurate, as otherwise,even with a good amount of clickers on our clock we have earned so far only five E/Mails incorporating the slightest hint of respect. IMO the charts are- so far - not bad at all, considering that we are the only ones delivering the full shilling. No competitor is in sight or even interested in a fair and square contest.What is this world coming too? IF the tread wants we will start with tomorrows daily YAHOO forecast on the MDA base. There is plenty of money to be made with that one. Regards, ED