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

To: Oblomov who wrote (58151)	8/12/2000 12:16:12 AM
From: XBrit	Read Replies (1) \| Respond to of 99985

Thank you... although I'm still somewhat worried here. Guys like Don Hays are using MZM growth charts (which look a lot like M2) as a central piece of their bear case. According to Hays and quite a few others, MZM growth rates heading to zero equals big drop in stocks coming soon. But M3 growth tells a different story. Unless M3 is somehow less relevant to the stock market, Mr Hays' case starts to look shaky. Moto does indicate that M3 should be a less good indicator (than M2) for money supply pressures on the stock markets. But I guess I don't really understand why. Money is money, so how can it be That it matters if it's in M2 or M3