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

To: HairBall who wrote (40111)	2/13/2000 12:02:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 99985

LG, I am still holding to a long term trading range, maybe seven to 15 years (like the trading range of the 1966 to 1982 period, between about 500 and 1000 on the DOW). That will get lows in the S&P and PE range of 10 to 13 (depending on interest rates) at the bottoms and highs in the 30 to 20 (earning catching up thus at each subsequent high lower PE's). But, until the liquidity dries up, I do not see yet the big caps averages yielding much. Remember my old "thesis" about excess liquidity aggravated (or improved depending on your view point) by the opening of the Japanese postal system. That these is together with election induced spigot opening by the government should keep most of this year quite bullish, IMHO. That is why right now I see no more than another 400 DOW points risk and see a lot of money moving to the like of JNPR, BRCD, BRCM, QLGC and even RMBS in the near future. Zeev