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

To: Les H who wrote (54194)	6/15/2000 12:32:00 AM
From: John Madarasz	Respond to of 99985

"No trend is evident. However, the opportunity costs of holding deposits will be a factor that should reduce the money supply by some amount going forward." The Fed has injected, roundly, $10 billion in permanent reserves this year, and added another $11 billion in reverse auctions for the Treasury. Last year at this time we had witnessed more than $27 billion in permanent fundings. If the Treasury ups its buy-backs, as Mr. Summers recently implied, we will arrive at the equivalent of last year's figure in fairly short order. Recall that last year's total fundings were a record amount. Secretary Summers, Thursday, was reported stating that if the Social Security surpluses and "a share" of the on-budget operating surplus are used for reduction of the debt held by the public, "we will be on track to eliminate the net debt held by the public by at least 2013." It appears Mr. Summers is also now allowing that the Treasury will be buying back more debt than originally planned; and more is the chance were the major U.S. share indices to encounter some sort of further difficulty. I have wondered whether or not Mr. Summers might confide the actual reason for executing the reverse auctions during the third and fourth weeks of the month? There are, after all, five other weekly arrangements possible. beartopia.net

To: Les H who wrote (54194)	6/15/2000 1:54:00 AM
From: American Spirit	Respond to of 99985

Forget about oil prices and check out some cheap tech prices. IBM, AAPL, CPQ, T, COMS, QCOM, UIS, LOR - all selling cheap. LOR at book value. Longer term this is where you'll make the big bucks. - Oil is just a temporary play. Maybe one more week until it peaks out and drops. Future earnings improvements should be priced in by now. Like I said my family owns oil stocks so I'm not bashing. I'm just saying that nothing goes up forever. Pick the top and get out.