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

To: pater tenebrarum who wrote (25382)	9/9/1999 4:49:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Oh come on... There isn't any irrational buying going on. Just look at my old favorite KEA. Up 30% today on absolutely no news. My system said to buy it and so did Haim's but did I listen??? Nooooooooo Doh!!!! We will see. I was under the firm belief that the Fed would not raise rates again due to lack of time to see the effects of the last 2 rate hikes. I am a vengefull man but if I were AG and this market rallies hard into the meeting, I would hike it two steps to stop this crud once and for all then when she drops, lower and make a statement that euphoria will be dealt with harshly from here on out. Of course they would have to stop doing the coupon passes every night the market drops a couple points too. I know I am dreaming but .... Good Luck, Lee

To: pater tenebrarum who wrote (25382)	9/9/1999 5:09:00 PM
From: TRINDY	Read Replies (2) \| Respond to of 99985

Heinz and all, Just processed my signals basis today's action. My methodology attempts to identify trends, as opposed to overbought/oversold type conditions. The signals have a positive bias, but nothing exuberant. The market action today obviously wanted to be on the positive side of things pending tomorrow's PPI, because that was the right side to be on for all inflation reports since the April spike. Someday, it won't be the right side to be on, but tomorrow is not likely that day. Despite the collapsing dollar, good Japanese growth, rising interest rates, declining bank stocks, Y2K worries, Greenspan supposedly targeting stock prices, bad breadth, on and on and on, this market seems to want to higher. This is not a wall of worry, it is a wall of stark-raving paranoia. Given that there are few holes in the mania as yet, it is probably safe to be long. Then, if Heinz gets his blow off top, we can all participate. Remember how Woody Allen ended his movie "Annie Hall?" A guy goes into a psychiatrists office and says to the shrink "My brother thinks he's a chicken!" The shrink replies, "Well, bring him in and I'll cure him." "But, I need the eggs," the guy states. Well, maybe we need this mania. BTW, If the Fed really wanted to cool things down, they could use their ability to move margin requirements higher. The Fed was given this tool to rein-in speculative excesses. Their non-use of this tool can only be interpreted as meaning that they are not that concerned about valuations.