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

To: Les H who wrote (43444)	3/17/2000 10:12:00 AM
From: LaVerne E. Olney	Respond to of 99985

The Wilshire 5000 (you know, the index that Greenspan watches) hit a new high yesterday. wilshire.com

To: Les H who wrote (43444)	3/17/2000 10:19:00 AM
From: Les H	Read Replies (1) \| Respond to of 99985

US BLS: CPI MEAT PRICES TAKE OFF WHILE TOBACCO QUIESCENT 08:52 EST 03/17 --March Gasoline Prices Already Assure CPI Boost in Next Report --Latest Three-month Annualized CPI Running at 3.9% Rate; 3.2% for Yr By Denny Gulino WASHINGTON (MktNews) - After months of warnings that meat prices are going up, the effect hit the U.S. Consumer Price Index hard in February, while the expected gasoline boost materialized but a tobacco effect did not, the Bureau of Labor Statistics reported Friday morning. The overall meat, poultry, fish and eggs category was up 0.9, and pork prices alone rose 2.1% in February. Beef and veal prices rose 1.1%. Even before seasonal adjustment beef and pork were up nearly as much, up 0.8% and 2%. The overall CPI was up 0.5%, just above expectations, while the core rate was exactly the 0.2% that was anticipated. Not counting tobacco's 2.1% increase would not have changed the top numbers, since the category has only a 1% weight, contrasted with its 3% weight in the Producer Price Index. Shelter costs, often a swing element, was up 0.3%. For the next CPI report, another sharp boost from gasoline prices is already assured and any OPEC gift of higher production would take months to "trickle in," a top BLS analyst said. The latest three-month annualized rate for the CPI is running at 3.9%. "It's a very similar story to what we've had in the past although the magnitude of energy is somewhat larger," BLS senior analyst Patrick Jackman told Market News International while the report was being made public. "The only thing that kind of stands out is the food component," part of which was raised by a seasonal adjustment rebound but the other by a real surge in meat prices. Food prices overall rose 0.4% February after standing still in January. "The disturbing thing in food is that jump in meat prices; both pork and beef prices rose rather sharply," he said. "They talk about a two-year cycle, although they've been crying wolf for some time, anticipating meat prices rising and up to now it really hasn't occurred." "The overall story has obviously been energy for some time, with tobacco playing a role," he continued. "This month, we have the uptick in food, the largest since back in (October of) '98." Part of it, he said, "is seasonal adjustment, but the other part is a true increase in meat prices." Transportation, as expected, had the largest increase of any major category, up 1.3%, with gasoline and public transportation's airline fares doing the lifting. "It would have been a 0.3% for 'all items,'" Jackman said, if gas had been unchanged." Tobacco "would not have had a measureable impact on the number" if excluded. Looking ahead, if OPEC "really allows members to up the quota," he said, "the effects won't trickle in for probably several months," Jackman said. "There's not much doubt, based on secondary data from the Department of Energy and Lundberg (survey), that we'll see very sharp increase in gasoline prices for March." The last pricing day in March is the 24th, but the first half of the month already displayed enough of an increase to build in the change, he said.

To: Les H who wrote (43444)	3/17/2000 11:07:00 AM
From: Les H	Read Replies (2) \| Respond to of 99985

Dow Fibonacci chart sandspring.com

To: Les H who wrote (43444)	3/17/2000 11:09:00 AM
From: Tunica Albuginea	Read Replies (1) \| Respond to of 99985

Haim, Andrea has already told Al to get a hoe and start lifting and stop whining. Maybe shock therapy should be the next step. I think a couple of zaps at 400 watt should do it. We'll have the pulse oxymeter on to make sure he comes back ( I am a sucker for 2nd chances ), TA Message #43444 from Les Horowitz at Mar 17 2000 10:06AM Greenspan needs a hoe? quote.bloomberg.com. Treasuries as stock index puts quote.bloomberg.com;