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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Peace who wrote (32936)	9/11/2000 4:55:17 AM
From: IQBAL LATIF	Respond to of 50167

Excerpts from Walker newsletter today inverted yield curve and the calender...<<Another thing that has us feeling bearish is the calendar. September is generally not a very friendly month for the stock market. The market defied the odds by having a very strong August...which is another month that is usually pretty bear-friendly. Could September make it two months in a row that the stock market beats the seasonal odds? With those chart patterns and weak market internals, we doubt it. Finally, there is still that inverted yield curve that we have been writing about for a while. Briefly, an inverted yield curve is when shorter term rates are higher than longer term rates. This is counter-intuitive, since investors usually demand higher rates for tying their money up for a longer term. Inverted yield curves are generally considered harbingers of coming economic recessions, and they are considered a bad omen for the stock market. So we have a confluence of factors that have us looking for lower prices in the coming weeks. How deep this pullback will be remains to be seen. In the last few years, these fall pullbacks have been very sharp, but they have also been over quickly. As this selloff develops we should get a feel for just how much damage there will be. Until then, buckle your seatbelts...>>

To: Peace who wrote (32936)	9/11/2000 10:39:19 AM
From: James Strauss	Respond to of 50167

On the other hand, if we decisively go below the 3750 area and/or we fail to mount a rally this week, then we will be looking at much lower targets. However, I am optimistic that we are very close to a bottom and the ensuing rally should take us much higher. Good analysis Peace... I also agree that the primary trend is up... 3750 is a good support level on the NDX with 3600 as an ultimate bottom if 3750 doesn't hold... Right now it looks like the NDX wants to struggle back to my mini 3840 support level... As I said earlier, anything above 3600 would be a plus and further establish the rising support bottoms we've seen... Jim