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

To: Michael Watkins who wrote (48651)	4/29/2000 1:46:00 PM
From: James Strauss	Read Replies (1) \| Respond to of 99985

Each prior correction has blasted through that moving average before reversing. Again -- history may not repeat but its worth considering. Volatility extremes, valuation extremes -- there's ample reason to be suspicious of rallies at this point. Good analysis Michael... Being suspicious is good... The put/call ratio shows a lot of people bearish... That also is good from a contrarian point of view... The fact that many people are questioning the validity of this mini bounce may be the starting point for another leg up... Jim

To: Michael Watkins who wrote (48651)	4/29/2000 4:18:00 PM
From: RocketMan	Respond to of 99985

That money continued to be with drawn over the weeks that the market tanked and clearly provided no support. Yes and no. As I posted earlier, April is the month with the highest 401 investments, on average, and yet this was one of the worst months in Naz history. OTOH, the funds have latitude over when the invested money is put to work, and I suspect the rally at the latter end of the week, in the face of the ECI report, was due to end of the month buys from 401 money that had rolled in over the month. Message 13522812