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

To: John Madarasz who wrote (34539)	12/1/1999 8:35:00 PM
From: Les H	Read Replies (1) \| Respond to of 99985

AAII bulls at 76% this week marketgauge.com

To: John Madarasz who wrote (34539)	12/1/1999 8:50:00 PM
From: dclapp	Respond to of 99985

I once believed that the Fed would reign in rampant speculation in the markets prior to y2k -- so that if problems happened, at the least they wouldn't happen with the markets at sky-high levels. I don't believe now. It seems like the Fed believes that lots of liquidity is more important now. And that the market can be "dealt with" post-y2k by hikes after the first of the year. Given that I'm not licensed to practice economic policy in this or any other state...still...it seems like a dangerous plan. If there are problems, and a sudden loss of confidence among investors...oops. I'm not saying that y2k will be "the end of the world" (hello?) or anything close to it. But many countries overseas are poorly prepared and we may well have problems here, also. So "priced beyond perfection" -- in the increasingly narrow advance -- may be hard to sustain over the next couple months.