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

To: Timothy Liu who wrote (23314)	8/18/1999 3:27:00 PM
From: Lee Lichterman III	Respond to of 99985

Tough to call right now as most stocks were down while the leaders are holding up well. I think they are playing expiration games which clouds the outlook. A hint may come as we are approaching a weak DOW resistance area here around 11060. Bonds rallied into the close but that maybe from a "flight to quality" safe haven buying etc. TYX is approaching my 5.9% area where I had my middle tine. Life should get interesting after Fridayis over with and Option games are done as well as you mentioned the Fed does his thing. Don brought up a good point the other day in that while the Bond was originally pricing in an increase, the PPI and CPI and subsequent rally may have taken that expectation out of the market. If so, we could have a sell the news as you say if he does raise which I am fairly confident he will. Also as another poster here said, I don't recall who, sorry, if there is a raising of the rate, won't they have to raise the discount rate also to avoid too wide a spread? Good Luck, Lee