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

To: HairBall who wrote (78893)	6/17/2001 10:58:11 PM
From: puborectalis	Respond to of 99985

Oprah Winfrey to Buy $50 Million Estate - Report LOS ANGELES (Reuters) - Television talk show host and media entrepreneur Oprah Winfrey has agreed to buy a mansion near Santa Barbara for $50 million in one of the most expensive residential property deals in California, the Los Angeles Times said on Sunday. The 42-acre estate in Montecito includes a 23,000 square-foot Georgian-style house, a swimming pool and tennis court, a barn, an orchard, two ponds and a lake, the Times reported. The previous owners had bought the property, about 90 miles northwest of downtown Los Angeles and looking out across the Pacific Ocean, for $14 million in 1998 before renovating it, the newspaper said. Winfrey, 47, who visited Santa Barbara in April for a photo shoot for her magazine, O, reportedly was charmed by the area and made an offer to buy the estate. A spokesman for Winfrey's Harpo Productions, the company that produces her Emmy Award-winning daytime talk show, could not be immediately reached for comment. Winfrey is one of the five founders of Oxygen Media Inc., which produces Internet sites and cable television programming targeting women. She already reportedly owns a Chicago penthouse and a 160-acre farm in Indiana. The only residential real estate deal more expensive in the Los Angeles region last year was the purchase of a Bel Air mansion by Global Crossing Ltd. chief executive and telecommunications mogul Gary Winnick. That transaction, which had been valued at up to $95 million, is not directly comparable to Winfrey's purchase because it also included a land swap, the newspaper said.

To: HairBall who wrote (78893)	6/18/2001 10:10:12 AM
From: Crimson Ghost	Read Replies (1) \| Respond to of 99985

LG: What is your take on this analysis from Sandspring? Friday's continued weakness in the equity markets stopped just above a previous gap on the 60-minute chart that we have previously pointed to as being of some significance. As such, equity bulls might be able to glean some hope that this has all been a nasty A-B-C 4th wave down in an ongoing rally to the 1330-1340 region. While certainly a valid interpretation, personally, we now doubt it. Financial stocks simply look too weak and are too early in their decline to hope for little more than a day or two reprieve. Instead, we'd expect a bit of a bounce to the S&P, but the gap to eventually get intersected, filled, and left behind as the market continues to migrate lower into a nasty 4th Quarter where the word "recession" will become fully accepted as a fait-accomplis. Specifically, if the S&P 500 June futures were to start trading below 1183.35 -- the bull's case will be fully abrogated. This is because at that level the current interpretation by some of a potential 4th wave low on the 60-minute chart would be intersecting the 1-wave high -- something Elliott analysis disallows. 1183.35 should thus be viewed as an inflection point where efforts to pick a bottom could turn into a true thrashing of the bulls. But be cautious first: This level hasn't come close to being reached yet, and likely won't without a further short term fight.