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

To: dennis michael patterson who wrote (38290)	1/27/2000 8:07:00 PM
From: Benkea	Read Replies (3) \| Respond to of 99985

dennis: "I don't think AG hears them" "Thinking" is dangerous in this casino (er: market) <g>.

To: dennis michael patterson who wrote (38290)	1/27/2000 8:20:00 PM
From: B.REVERE	Read Replies (1) \| Respond to of 99985

Joey Bagofdonuts said on CNBS in early December that the Dung would outperform the dow in 2000. He set the price target at 4300 when it was 3300 and we hit that last Friday. Gruntal might have started shifting out of tech into bonds as of that date, as the reversal started as soon as 4300 was met. Coincidence? Don't know but other than Abbey, aka battleship goldpimp, Joey Bags. was the biggest bull out there. I follow the ndx and there has been selling into strength of every aborted rally the last four days. The aol/tmx merger brought the word value back into reality and I think this may have started the turn to valuation of stocks back into certain camps. With liquidity drying up, this market has run out of bullets. A bad GDP and ECI number might cause a shake out tomorrow. If the numbers come in high and the bond rallies, it's flight to quality and nothing else. Once the fed moves on tuesday, bonds will fall again if it's only 25bsp. A lack of resolve by the fed to slow the economy will not sit well with the bond traders. 3300 looks like next support on the ndx, a figure seen six weeks ago.