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Strategies & Market Trends : The Thread -- Ignore unavailable to you. Want to Upgrade?

To: vagabond who wrote (30789)	1/30/2001 10:41:35 AM
From: Joe Hoek	Respond to of 49816

Same here vagabond. The Sirens aren't calling out to me. EXTR almost got to it's 40 DMA which it hasn't been able to get above (just below 50). It's 40 EMA and 50 DMA are right above that and are starting to flatten out or maybe ready to turn up. Although if it fails again it could drop a bit. I've got a little bit of that and even less NTAP which looked good but dropped with the NAZ and can't get back up. Like I said earlier CCMP looks real strong, but I'm not sure I want to buy with the run it's already had.

To: vagabond who wrote (30789)	1/30/2001 10:49:54 AM
From: Bryan	Respond to of 49816

I'm starting to get a bit nervous about this whole market. While the recent NAZ strength has done all of our portfolios some good, I'm skeptical about the prospects of this short term strength turning into a long term rally. Today's consumer confidence numbers are starting to tell the truth about just how the consumer is feeling lately. Anybody catch that??? ============================================================ NEW YORK, Jan 30 (Reuters) - A key gauge of U.S. consumer confidence crumbled in January to its lowest level in more than four years, bolstering the case for aggressive Federal Reserve interest rate cuts to ward off a recession. The Conference Board, a New York-based research group, said on Tuesday its monthly index fell for a fourth straight month to 114.4 -- its lowest level since Dec. 1996 -- and well below the 124.2 economists had forecast. The index dropped sharply from an upwardly-revised 128.6 in December. Most notably, the expectations index, a gauge of sentiment about the economy's near-term course, plunged to 77.0 from an upwardly-revised 96.9 in December. "Consumers' increasing pessimism about the short-term outlook has sent the Expectations Index into territory normally seen prior to a recession," said Lynn Franco, director of the firm's consumer research center. ============================================================ Ok...so WTF are people thinking now? Wallets are getting squeezed by high energy costs, Christmas bills are pouring in, along with the mortgage, car payment, kids tuition, other credit cards, etc. Mass layoffs abound. Hmmmm, does this mean that the self-fulfilling prophecy for the markets would be to sell off no matter what now? Does this latest bad news raise the possibility of 75 basis points tomorrow? What I would give to be the fly on the FOMC wall. -B