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

To: TRINDY who wrote (23620)	8/23/1999 1:52:00 PM
From: briskit	Respond to of 99985

11252.27 the DOW touched the previous high to the penny. Is that cosmic, coincidence, or contrivance, captain? I am going out on a limb here and say, now that it got back up there, it's either going on through or it's not, if not today then later. Mike

To: TRINDY who wrote (23620)	8/23/1999 2:18:00 PM
From: TWICK	Read Replies (1) \| Respond to of 99985

Why would Mr. Greenshades mot raise the rate on more time in October ? I see no reason why Y2K concerns should stop him from doing that if he feels another tightening is necessary. And they are already worrying about what his next move may be: cbs.marketwatch.com Too early to tell right now IMO. I'm sure many of you are aware of the economic data that will come out this week and next. biz.yahoo.com I also wonder if the dollar is going to be in any better shape after the rate hike. Japan's recovery is still in its infancy stage, but it stands a good chance of getting stronger this year than most predict, leading to a higher trade deficit, a weaker dollar, and further exodus of foreign investors. I found the following commentary from Bob Brinker about the dollar and its affect on the market very sobering. Any thoughts, or opinions ? :10 Bob opened talking about having empathy for Fed chairman Greenspan. Along with all the other problems he has to worry about we now have a deterioration in the Dollar. The Dollar has been sliding since July and not much has been reported on this. We like to see a Strong or at least firm Dollar. This is a problem as a weak Dollar means foreign goods cost more and add to inflation at home. This affects Stock and Bond prices. In the last 4 years foreign buyer have purchased 150Billion in US treasuries annually. Recently foreigners are net sellers of Treasury Debt. This is a big deal as it gives the Fed a reason to raise rates. Bob says the things we need to see an up trend in the markets are 1. Slower economic growth 2. Lower rates 3. Reduced Inflation 4. A firm Dollar. Slower growth should help with the labor tightness. Bob thinks the fed chairman is not wearing a watermelon smile. Twick

To: TRINDY who wrote (23620)	8/23/1999 2:19:00 PM
From: Les H	Read Replies (1) \| Respond to of 99985

Part of the euphoria is due to speculation about bank and financial mega-mergers in response to Japan's 3-way merger. I heard they have till end of next year to use the pooling of interests favorable treatment for mergers.

To: TRINDY who wrote (23620)	8/23/1999 7:36:00 PM
From: James F. Hopkins	Respond to of 99985

Trindy: I have to admit the rally today was stronger than I thought it could muster. There was a hint it would go up, but nothing clear, and nothing to indicate this much. The dollar did a rally but it was fast and the market right with it, the forex parlay players had their timing just right and didn't tip any one off. Volume was 104% on the most active and they climbed 3.53 % it will take some bad news to get in the way of that kind of momentum, I'm not going to fight the tape no matter how silly it looks. So much of it happened late in the day , but there wasn't any weakness as no time did she dip below her open, at least my DVI didn't. She may give back some before the CreemSpam thing tomorrow but then I thought they would hedge today and they didn't, but it looks like she is off to the races and full blown mania is back in style. Jim