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

To: TWICK who wrote (24160)	8/30/1999 2:59:00 PM
From: Lee Lichterman III	Respond to of 99985

Agreed but I think today's action was dictated by the housing starts news this morning. Was a long time ago so the link is not handy but today's housing starts was up .1% and the expectation was for it to be down .2%. Now normally I am having to defend the bearish view but IMO this is not a logical reaction to this report. There will be a delay in the last rate hike affecting the economic numbers. It will take at least a month for the slowing to start to show up. What worries me is if the market is acting this irrationally to these reports, what are they going to do when the ultra slow lagging PPI and CPI numbers come out later inthe month. If you remeber those reports were why I was bearish in my outlook for mid September. These reports are always slow to show the economic direction and will just now start to show all that 20 dollar a barrel oil, the spike in the CRB from earlier etc. TYX 6.069 OUCH !!!!! I wonder if I could sue that pit guy for always sleeping when I have orders in? <ggg> Those puts this morning sure would have been sweet right about now. Good Luck, Lee