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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: The Phoenix who wrote (47682)	8/3/2000 11:33:30 AM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 63513

Gary, It is true, there is nothing saying that we have to come down to the BSL. That is why it is good to employ other TA to get a bearing on where we are in the market. The discussion that I had this morning concerning the tick and the trin was about whether or not we had hit bottom. We could rally from here, but a significant bottom has not been put in yet. IMO. JXM

To: The Phoenix who wrote (47682)	8/3/2000 11:37:19 AM
From: MulhollandDrive	Read Replies (2) \| Respond to of 63513

Market psychology! Each failed rally only serves to convince investors that a top has been made, and further distribution will continue until either valuations are low enough to signal buying or economic conditions are strong enough to warrant higher valuations. Right now growth seems to be undesirable vis a vis the FED. Interesting catch-22 AG has presented to the market. Hike interest rates to slow growth or watch for weakening fundamentals, either situation doesn't bode well for equities. <edit> the good news in all of this, is that from what I have been reading that huge increase in GDP came from technology spending, which ultimately bodes well for productivity, the longer we can sustain high growth rates (at least according to FED standards) and not see corresponding inflation, the FED can take a neutral stance.