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

To: Boplicity who wrote (51847)	5/23/2000 5:41:00 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

>>>>Something would have to be structurally wrong with the economy<<<< Gregory Mullineaux, there is something drastically structurally wrong with the economy that you don't hear about in the latest consumer spending reports, it has been discussed here at lengths, by heinz and a few others - excessive leverage The selling your seeing in the nasdaq is an unwinding of excessive leverage, built up in a time of super bullish - this time is different, new era-new economy bubblehead thinking, and it must be strong, because with oversold readings like we've had over the last couple of days you should see some rally, instead yesterday we rallied into the broken triangle from 4/17 and turned it into resistance, it's possible that this triangle is a B wave and if A = C, the correction would take us back to the october 98 lows. The nasdaq short interest ratio, and the 3x equity calls to puts yestered while the naadaq was breaking support is not a good sign. lowrisk.com The nasdaq pattern is following the nikkei very closely, it retraced all of it's move from October 1987 before a decent rally started. The blow-off started with greenie's three rate decreases and set the bubble blow-off in motion, instead of allowing the US to slip into recession and have a cleansing bear market with the rest of the world, now it will be much worse. b