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To: Teresa Lo who wrote (30419)	8/13/1999 9:57:00 AM
From: Patrick Slevin	Respond to of 44573

It appears that I can read everything just fine on the other machine, thanks. <e>

To: Teresa Lo who wrote (30419)	9/9/1999 7:12:00 AM
From: Teresa Lo	Read Replies (1) \| Respond to of 44573

He Said, She Said...Morning Market SnapShot for Thursday, September 09, 1999 In yesterday's column we mentioned that the market is now very sensitive to news. The financial media is focused on analyzing and dissecting every bit of economic data and reading into every remark made by FOMC officials in an attempt to divine the direction of interest rates and how the Fed will lean in the October FOMC meeting. The market seems paralyzed, with participants going from day-to-day, from sound bite to sound bite, from statistic to statistic. Anxiety is palpable, and participants seem to be groping for direction, not wanting to make any commitments. We will simply look at the charts and listen to the message of the market. On the interest rate front, a look at the December Treasury bond futures contract finds it still trading under the 20-day exponential moving average (EMA), providing resistance on every bounce into this area. Notwithstanding the rally last Friday off the non-farm payroll numbers, bonds have pulled back and are near the low end of the trading range, and is in a position to test the June and August lows in less time than it takes to whisper "higher rates". In the meantime, the CRB index continues to show rising commodity prices, with oil leading the way. There has been much debate about the validity of the CRB index as a leading indicator of inflation, with most analysts dismissing this index, even as it moves higher. However, if we contrast this to the kind of positive media coverage that biz.yahoo.com skyrocketing DRAM prices have been receiving on TV for chip stocks, one begins to wonder if attention is only paid to those facts that support opinions rather than the other way around. All this adds up to the major market averages staying in a trading range, waiting for news to become a catalyst for buying or selling. Charts specific to these comments have been posted to intelligentspeculator.com