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

To: Psycho-Social who wrote (73433)	3/28/2001 11:15:55 AM
From: Saulamanca	Respond to of 99985

BETTING ON ECONOMIC DATA REAL RISK Commenting on the consumer confidence report, Ian Shepherdson, chief U.S. economist for High Frequency Economics in Valhalla, N.Y., wrote: "This report puts the cat among the pigeons. If it really does mark a bottoming out in consumer confidence, we can forget about 4 percent fed funds by summer, and a recession, if it happens at all, will be brief and shallow." Shepherdson attempted to shore up the recession scenario by asserting for the first time Tuesday that the March confidence data reflected January's Nasdaq stock rally, which evaporated big time in February and March. "Over the next couple of months, this should drive confidence down again to new cycle lows," he said. chicagotribune.com