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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (80614)	6/18/2002 2:55:00 PM
From: t2	Read Replies (1) \| Respond to of 99280

Dale, SnP and Dow turned positive before Nasdaq(which is still negative). It is not proof of any major SnP buying but just one indicator that the SnP500 would be purchased as bonds are sold. Asset allocations are interested in the SnP. Can't ignore the good market timer (Tom McManus of Bank of America, increasing stocks by 5% even while bearish on stocks....and later reduced bonds, increasing cash a few days ago. You have wonder if this guy is thinking like the rest of wall street strategists; I tend to believe others are probably in the same boat but it becomes a matter of timing the switch..they were probably want to increase stocks but prefered to wait a bit long before switching. (I am also referring to the conservative pension fund managers as well). Many funds are regularly rebalanced especially given the recent strength in bonds...and we are getting close to month end and mid year. IMHO, stocks will play off bonds and not the dollar. Dollar going down will only help stocks as long as we don't get a panic drop. ..but I am not a patient long here.<g>