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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (6512)	4/29/2001 5:11:36 PM
From: dennis michael patterson	Read Replies (1) \| Respond to of 52237

Just in my email from Dr Ed (Yardeni) The resulting rapid rise in the monetary aggregates is Exhibit A in the case against both a recession and a prolonged bear market in stocks. Indeed, real GDP was up 2% during the first quarter and stock prices have rebounded nicely since early April. Still, the rolling recession is likely to continue rolling over the technology industry, and shows more signs of spreading to labor markets around the country. Furthermore, the stock market is now more than 15% overvalued as stock prices rose at the same time that earnings expectations fell and bond yields moved higher.