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

To: UnBelievable who wrote (55429)	6/27/2000 9:07:00 AM
From: Haim R. Branisteanu	Respond to of 99985

UB, may be we had it yesterday. Haim

To: UnBelievable who wrote (55429)	6/27/2000 9:14:00 AM
From: eichler	Respond to of 99985

Un, You have my vote! <ggg> Eichler

To: UnBelievable who wrote (55429)	6/27/2000 11:04:00 AM
From: Tunica Albuginea	Read Replies (3) \| Respond to of 99985

UnBelievable:Re:" Why don't we have a rally today? " Initially I was going to crack a joke about it but then I thought that several MDD threaders are here to do business and joking may not be appropriate at this time. So let's talk business: IMHO the reason we haven't had a rally is because many people are starting to smell a rotten fish somewhere around here or near the aerea where our Inflation data is generated ( I believe it is a compound called BLS ( no, not Bull Sh't , just plain vanilla BLS ). So I think people no longer trust that system. In fact people ae starting to mistrust just about all the pundits. Why? Because we hear one thing and then find out another: Here is the latest example: Message 13950377 " According to the latest report of the National Association of Realtors, sales of previously occupied, or existing, homes rose 4.3% in May to a seasonally adjusted annual rate of 5.09 million units, up from a pace of 4.88 million units in April. Last month's sales rate was 1% higher than the rate of 5.04 million units in May 1999. The results caught many economists by surprise, since they were expecting the market to cool as a result of rising interest rates this year. Fears of inflation helped drive rates for an average 30-year fixed-rate mortgage to 8.64% last month, the highest level in five years, and in April, home sales dropped 6.2% from a pace of 5.2 million units in March. But now, all signs point to a booming market. If sales continue at their current pace, they will finish the year 2% shy of last year's total of 5.197 million homes, the most ever sold in a single year. Applications for new mortgages have been rising steadily all year to near an all-time high, and they already are higher than they were a year ago, says David Berson, chief economist at Fannie Mae. "The implication is that the underlying demand for homes appears to be quite strong and doesn't appear to have fallen meaningfully, if at all, with the rise in mortgage rates," he says. Indeed, "it's very possible that we could have a stronger market this year than we've been projecting," adds Fred Flick, an economist at the National Association of Realtors. " ------------------------------------ So there it is UB. It's happening again and again: Economists are wrong! Boy..... how did that happen?? Add to that the fact that people are looking for a slowdown and what do they see? The housing market is ready to boom off. The Stock Market is ready to Boom off Technology sales and profits are ready to boom off ( at least according to the latest pundit data ). SUVs are hitting the road at full speed gas prices be damned. HealthCare is Booming off and so is The Biotech Index. So I think confusion reigns supreme here. Which way are we going? Like a deer facing healights in the night we stand in the Nasdaq superhighway looking for a way out........ TA Message #55429 from UnBelievable at Jun 27, 2000 9:03 AM ET If Everybody Know The Fed Is Not Going To Raise Rates and everybody knows that that are going to maintain the inflationary balance of risks, and everybody know that there is going to be a relief rally afterwards, Why don't we just have the rally today? Message #55429 from UnBelievable at Jun 27, 2000 9:03 AM ET If Everybody Know The Fed Is Not Going To Raise Rates and everybody knows that that are going to maintain the inflationary balance of risks, and everybody know that there is going to be a relief rally afterwards, Why don't we just have the rally today?