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

To: XBrit who wrote (58185)	8/14/2000 1:23:47 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

JM, i agree that the potential for trouble for the big cap techs is great...they're the most overvalued segment and extremely crowded trades as well. i'm less certain if the market's 'waterbed' behavior will just continue if they should break down. never underestimate the capability of stocks that have already come down to go even lower.... however, from the monetary PoV, there seems little to suggest pressure on stocks...never before has there been a 'tightening' cycle during which the Fed has just kept on supplying enormous gobs of liquidity through the back door as we have just experienced. it is highly unusual, and imo speaks volumes about the fragility of the credit and asset bubbles. i think they're set to continue to expand until a natural limit is reached...the Fed is not going to abandon the credit creation voluntarily.