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To: Gary Burton who wrote (53513)10/25/1999 5:27:00 PM
From: The Ox  Read Replies (3) | Respond to of 95453
 
OT
looks like the bond market is pricing in a Nov. rate hike by the Fed. Until (or maybe if) the bond market shows buying support, this market will continue to be very weak. I have a feeling we will see 6 5/8 on the yield curve in the near future.

The beauty of this scenario is that there are lots of people on the sidelines in cash. Whether it's Y2K or simply because it's October, there are plenty of folks out of the market right now. It should be a fun ride up when all the "smart" money comes back in looking for bargains.

Thanks for the EW updates and keep up the good work!

Michael



To: Gary Burton who wrote (53513)10/25/1999 6:08:00 PM
From: BigBull  Read Replies (2) | Respond to of 95453
 
So Gary, if the Dow falls to sub 10,000 and is not confirmed by breadth, that raises some interesting questions does it not?

1 What sectors will resist the decline best?
2 What sectors will assume market leadership in the next upleg?
3 What does Elliot say about the OSX rally after the 65 nadir is in?

Not asking leading questions here. Just give it to me straight Doc! <g>