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

To: dennis michael patterson who wrote (28158)	10/1/1999 4:17:00 PM
From: HairBall	Read Replies (3) \| Respond to of 99985

dmp: Elizabeth McKabe (Judy Garland) Chief Market Strategist with BearSterns thinks rates will not be raised next week, because not enough hawkish talk is preceding the meeting. Regards, LG

To: dennis michael patterson who wrote (28158)	10/1/1999 4:32:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Dennis, as much as i admire the tech stocks resilience, they mask what goes on underneath...and that's not pretty. the financials and transports got whacked again...and the REAL star performers are the gold stocks. i don't think that's a good sign. of course, these trends could conceivably reverse, but i don't really believe so. please not to take this wrong, but the tech stocks broke out to fresh highs in '87 only a few days before the dip...only to get a 50% haircut in a week's time. i'm not calling for a repeat, just pointing out that when strength in big cap techs masks weak action underneath, it is NOT a good sign. note also that the bond and the dollar look increasingly wobbly... i apologize for sounding so bearish<g>, but i still don't like what i see, in spite of the market's miraculous comebacks late in the day. regards, hb