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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (29873)	12/1/1999 10:11:00 AM
From: IQBAL LATIF	Read Replies (4) \| Respond to of 50167

NAPM number good for the market.. prices paid and new order index reflect that prices paid are down but orders are up that is positive ..1402 will be taken out..unemployment number hourly earnings on Friday will be keenly watched.

To: IQBAL LATIF who wrote (29873)	12/1/1999 6:33:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 50167

Awesome post. But I thought you were a bull and this post pretty much sums up everything we have been saying on the MDA thread since last April and ever since, we have been labeled as perma bears. <ggg> This is truly an amazing market that only rewards those that can either short the weak ones or pick the ever narrowing few strong ones. While I have long been convinced this will eventually end badly, I am also curious as to how the ever increasing declining stocks could maybe turn around and start out performing the "street darlings". Unfortunately, I only see this as possible if rates will stop climbing and even possibly reverse back down which I don't see happening in the immediate future although still possible later next year. If we rally intot he FOMC meeting, I fully expect the Fed to announce a minimum tightening bias. Even if we don't rally I think it is probable. However as for the long bond rate, as I said before I expect 6.35 to be the short term top and then a retrace to occur before the next push up can begin. I won't know until tonight's download but today's 6.33 might be close enough, I will have to see just how close it came to my line. Again, nice post. Good Luck, Lee