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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (43540)	5/25/2001 6:21:21 PM
From: ajtj99	Read Replies (1) \| Respond to of 56535

Here's another good article that articulates some current market conditions as well as prospects for the future. sfgate.com (Article was originally posted by LES on the MDD thread) The surprising thing is that it seems to confirm some of Zeev's theory's (April 2002 peak around 4300, for example). It says we are overbought right now and tend to be headed for a sharp correction down. The thing I'm trying to determine is if we are in a trading range or will indeed drop down below support at 2095 and 2052. The economic situation seems to require that we get down to a more reasonable level. The SPX is really overvalued also, so I believe there is a strong possibility that the SPX will drop to 1187 or so and the COMPX to 1850 sometime during earnings warning season, which is just around the corner).

To: ajtj99 who wrote (43540)	5/25/2001 7:11:39 PM
From: LTK007	Read Replies (1) \| Respond to of 56535

excellent dig aj--i bold face the last bit<<There's one more thing you need to know. What the Fed is doing is in direct contradiction of the way free markets are supposed to work, probably contrary to the charter of the Fed - and definitely very dangerous. You probably only care about the dangerous part, so here it is. Stocks are still very high priced. And the impact of Fed rate cuts is negligible. If Greenspan's attempts to re-create the bubble fail - or even become too transparent - the integrity of our entire monetary system could come into question. You might want to keep your fingers crossed that this works. * Please send e-mail to: jcrudele@nypost.com