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

To: Jack of All Trades who wrote (83200)	5/17/2002 8:03:29 PM
From: Patrice Gigahurtz	Read Replies (1) \| Respond to of 99985

I agree 100%, the DOW looks top heavy while the Naz and S+P are coming off of over sold levels; contrastingly the DOW is amazingly high given that its intra day low following 9/11 was somewhere in the 8400s (?) if I recall correctly. Can you imagine the levels we'd see if next qtr earnings are weak ? Too much is being "bet" that we're out of the woods (earnings wise) and I just don't think one can "bet" big $$$ on future earnings as this could be just a earnings blip caused by depleted inventories, government spending, etc. I have a modest long position in some hi-techs stocks but the bulk of my money is in low yielding secured bonds. Unlike in '98,'99' era I just don't have the gut feeling that this economy is running on all cylinders (yet).