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

To: Stephen who wrote (20969)	7/23/1999 4:52:00 PM
From: pater tenebrarum	Read Replies (3) \| Respond to of 99985

i concur; while money is still rotating between sectors, there's no conviction discernible. the market has now a one-step-forward-two-steps-back feel to it and bounces look like shorting opportunities. i suspect that there is growing trepidation in view of the next batch of economic data likely to be less friendly than the last batch. CPI for instance will capture the rise in gasoline prices and air fares next time around and AG has already intimated that the Fed will make use of any excuse it can find to put on the brakes. share prices are simply too lofty to withstand an unfavorable interest rate environment. regards, hb