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

To: Zeev Hed who wrote (68922)	2/10/2001 8:32:16 PM
From: KevinMark	Respond to of 99985

Yeau, those #'s are going to be nasty, that's for sure and everybody knows it.

To: Zeev Hed who wrote (68922)	2/10/2001 8:44:42 PM
From: Stephen M. DeMoss	Read Replies (3) \| Respond to of 99985

Zeev, So you think the market will be down Monday A.M.(time to buy for a quick trade), up Monday afternoon through Wendsday 2PM (sell longs and go short), and down from Wendsday ff? Is that correct? If yes, which companies would you go long and in turn which ones go short on Wendsday? Anyone else's thoughts are welcome! Steve D.

To: Zeev Hed who wrote (68922)	2/11/2001 8:53:35 AM
From: Crimson Ghost	Read Replies (3) \| Respond to of 99985

Zeev; An interesting thought from a very smart trader who runs his own pay site: We're getting a little ahead of ourselves here, but we see the potential for a giant 'hook' to develop over the next 2-4 months. If the major indices manage to hold above their late-Dec/early-Jan lows during the currently-in-progress correction and then move decisively above their late-Jan/early-Feb highs, almost every chart-watcher in the world will shout "Hooray! New bull market!". Our thinking is that the major downside risk will occur after these shouts are heard.

To: Zeev Hed who wrote (68922)	2/11/2001 3:23:09 PM
From: puborectalis	Read Replies (1) \| Respond to of 99985

Former Treas Sec Rubin opposes Bush tax cut-NY Times NEW YORK, Feb 11 (Reuters) - Former U.S. Treasury Secretary Robert Rubin on Sunday said President George W. Bush's $1.6 trillion tax cut plan was a serious mistake in economic policy and put years of government spending discipline at risk. ``I feel so strongly that a tax cut of the magnitude proposed is a serious error in economic policy,'' Rubin, now the chairman of the executive committee of financial services giant Citigroup Inc. (NYSE:C - news), wrote in the New York Times. A tax cut of the size proposed by Bush runs the risk of returning the nation to the budget deficits of the 1980s and early 1990s when the national debt quadrupled in 12 years and the economy eventually slid into recession, Rubin said. ``The proposed tax cut ... would substantially diminish the fiscal position of the federal government, and would create a serious threat of deficits,'' he wrote. Rubin said that budget deficits would likely increase interest rates and lead to a deterioration of business and consumer confidence -- the very confidence that had underpinned the near-decade long U.S. economic expansion. The views of the former Treasury secretary, who served from 1995 to 1999 under President Clinton and won rave reviews from Wall Street, also put him at odds with his one-time ally, Federal Reserve Chairman Alan Greenspan. Greenspan told lawmakers last month that tax cuts could ensure growing surpluses did not force public acquisition of private assets. He testifies again before Congress on Tuesday. Rubin's long op-ed essay, carried in the Sunday edition of the influential daily, comes several days after the new U.S. Treasury Secretary Paul O'Neill courted backing from senior Wall Street financiers in a round of meetings in New York. Among those at a breakfast session O'Neill held last Wednesday was Rubin's boss -- Sandy Weill, head of Citigroup, who participants said expressed strong support for tax cuts. Rubin wrote repeated that prudence was the best course of action in the face of mounting projected surpluses and a slowing economy. ``We should avoid committing ourselves to dramatic courses of action that are hard to reverse in the face of the inherent uncertainties of any projections,'' he wrote. Rubin said the true cost of the tax cut was around $2 trillion because by slashing taxes, the administration would have to also pay $400 billion of interest on debt that could otherwise have been retired. He said policymakers should wait longer to see if projected surpluses materialized before fretting about how to best use them. In the meantime, the best way to use the surplus would be to pay down debt, enact a more moderate tax cut favoring middle and lower income people, and increase spending on health and education, he said.