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

To: Les H who wrote (52417)	5/27/2000 8:57:00 PM
From: sea_biscuit	Read Replies (1) \| Respond to of 99985

Les, that is a great observation! I have felt that this market is seeing so much complacency that it won't rest until it takes out last year's lows... We will have to see where it ends up.

To: Les H who wrote (52417)	5/27/2000 10:20:00 PM
From: art slott	Read Replies (1) \| Respond to of 99985

Les, margin interest is also probably high on the short side and is also used in arbitrage. >>It's clear that when only 10 percent of the margin debt has been reduced there's still a lot of air in those accounts as opposed to equity.<<

To: Les H who wrote (52417)	5/27/2000 11:40:00 PM
From: John Madarasz	Read Replies (1) \| Respond to of 99985

Hi Les...Thanks for the data I went back ten years, interesting only in 1998 and 1999 did the month of may close lower than the open on the Nasdaq. I think what I'm trying to say is not that the bottom is in, but thata bottom is close and a nice bear rally could be at hand... kinetictrader.com I fully expect to see an intraday low of 2350 on the Nasdaq before the summer is over, it's just that a 75% haircut in two months is even more unprecedented than ANY nasdaq gains to date. I think that it will take longer for investment banks and big money to unwind positions more profitably. All just a guess, Regards, and have a great weekend John M Durable goods orders... ndr.com