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

To: Robert Rose who wrote (23806)	8/25/1999 4:48:00 PM
From: Les H	Respond to of 99985

Money was also flowing out of the cyclical and financial sectors. cyclicals - oil supply report (check XOI and OSX) and lumber price drop (check FPP), and banks - Y2K and credit cards.

To: Robert Rose who wrote (23806)	8/25/1999 5:55:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 99985

Robert, the economy is sound in some respects and not so sound in others...specifically the current account deficit, the low savings rate and the credit explosion are very worrisome. i have no doubt that at some point a corrective process will ensue - probably out of the blue. every single major stock market decline this century has started in a year in which corporate profits had reached record levels and the fundamental economic backdrop was considered sound. of course it is very hard to forecast when this will happen, but trust me on this one: it will happen. but first the blow-off.... regards, hb