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

To: 10K a day who wrote (81771)	9/15/2001 10:58:53 AM
From: larry	Read Replies (1) \| Respond to of 99985

I think we will fall, and fall hard in the long run. The market was overvalued before the attack began. Consumer confidence was tanking before 9/11/01 anyway. Unemployment rate, as I predicted long time ago, is marching toward 6% within the next 6 months. Business is slow as usual...everything points to a recession, and market, especially DOW is still priced in for perfection, no worse than a V. Fed can print the $$ like crazy. But this won't prevent the market from tanking in the long run. Smart money will get out of the market anyway. Shorts are not going to patriotically cover their positions knowing that it will go lower anyway. Actually, I believe that any artificial popup in the market next week will probably bring in more shorts or put buyers...... But I don't believe that the market will pop up next week. Sure people can hope and fantasize that patriotic rally will push the major indexes up. But even if it happens, it will be very short lived. The economic news out of the market these days are mostly very negative. It's probably sealed that the major index will drop at least another 10% in Sept. And another 10% in Oct. is very likely. larry!