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To: Square_Dealings who wrote (74595)8/7/2001 11:02:44 AM
From: long-gone  Respond to of 116834
 
No rally, up DIJA 56



To: Square_Dealings who wrote (74595)8/7/2001 1:43:07 PM
From: Crimson Ghost  Respond to of 116834
 
The day to day course of the stock market is unpredictable. Nonetheless I think it is fair to say that we will not see a SUSTAINED upmove until we get some real capitulation that knocks stocks down to fair value or below. Right now the S&P 500 still is 10-15% overvalued according to the Fed stock valuation model.

The market's refusal to rally much today on the productivity numbers suggests that this capitulation phase may not be far off.


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