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

To: bobby beara who wrote (20659)	7/20/1999 11:58:00 PM
From: American Spirit	Read Replies (1) \| Respond to of 99985

I'm actually contrarian being bullish after today's media onslaught of pessimism. We are right now in the strongest economic environment in recent US history. even though the market has come a long way we are also in the midst of the internet revolution not to mention the stock-trading revolution. There is simply nowhere else people want to put their money right now. Earnings are very good. No inflation, unemployment, international crises. Could change, but for now, enjoy it. I believed we needed this sell-off today seeing MSFT hit 100 so quickly. Now we have a rational pullback and many juicy buys are presenting themselves. PS - The words I posted were not mine. But these are. PSS - If you are short the market I'd be ready with a quick trigger finger to reverse course. IMHO of course. No one really knows until it happens.

To: bobby beara who wrote (20659)	7/21/1999 12:12:00 AM
From: Haim R. Branisteanu	Read Replies (3) \| Respond to of 99985

BB, in another vein the market move may have a lot to do with the yen getting stronger. The unwinding of pair trades and returning yen loans (carry trades)my have amplified the downdraft. It is interesting to note that the $ fell in the last two days. BWDIK Haim

To: bobby beara who wrote (20659)	7/21/1999 10:18:00 AM
From: Les H	Read Replies (1) \| Respond to of 99985

Some of the company guidance that accompanied the earnings reports were warnings of upcoming quarters or of moderating growth. Microsoft was already forecasting 15% growth for next year before they reiterated that view in the conference call. It's just that the stock ran up in anticipation of and because of this year's strong comparisons to last year ( I believe this year's growth was over 54%). Even Lucent's earnings growth was not very good. It was actually down if they hadn't added back in one-time merger costs in the prior year's interest expense category (Nice to be able to back them out of current quarter and then to back them in a year later). At this point, I only have oversold readings on DJIA/NYSE 5-day Wilder RSI and TRIN, but not the NDX/Nasdaq since their figures were in the stratosphere before the drop.