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

To: Robert New who wrote (76750)	5/10/2001 9:13:47 AM
From: t2	Respond to of 99985

This sums up the bullish case. Basically I see it the same way. The short term bearish bet that has been made (due to Technicals--see point 6 below) could be a key factor in pushing the market higher. From realmoney.com. Doug Kass What's Not to Like? 5/10/01 8:04 AM ET Okay, consider... 1. ECB cuts interest rates by 25 basis points this morning. 2. EMC announces a 50 million share buyback, and indicates that information technology spending is improving. 3. Crappy Cisco results fails to crack CSCO's stock price. 4. General Electric, a barometer of general business conditions, announces that it will modestly beat prior expectations. 5. Morgan Stanley raises ratings on the all-important semiconductor equipment sector. 6. Most observors, including many on this site (whose opinions I do respect) are short-term Bearish for the simple reason that the Technicals point to resistance/supply overhead. 7. Mutual Fund Inflows are resuming at a heady pace. At the same time that cash reserves have risen from three and six months ago. 8. Money market funds hit new records last week. What's Not to Like? thestreet.com BTW--Kass is a hedge fund manager that used to trade with a short bias in past years. Now taking the bull case.