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

To: bobby beara who wrote (83331)	7/22/2002 11:23:07 PM
From: KymarFye	Read Replies (2) \| Respond to of 99985

Just watching Aaron Brown, discussing the stalled plans to re-build on the WTC site... alongside the latest ugly news from the Middle East... began to see this all as of a piece... You know the thing about tallest buildings coinciding with market tops... seems like we've got something of the reverse taking place, or having taken place... The 9/11 events produced unprecedented gaps in the charts - corresponding, of course, to unprecedented trading halts - and the ensuing rally, along with the almost immediate successes in Afghanistan, may have lulled us into accepting the illusion that we were already effectively "over it." There was probably something attractive about simply turning away from aspects of the events that, beyond the human tragedy, are too maddening to contemplate - the horrific pun commemorated in the date, the resonance with the Babel myth, the uncompromising assault by the most twistedly self-conscious victims of "world trade" on the center of world trade, and on and on: How could we all watch those great towers imploded to their foundations without also taking up, at least subconsciously, the idea of bringing everything and anything back to essential foundations. That goes for stock prices, too - it's almost so obvious that it's virtually presumed. What transpired in about an hour or two on 9/11 has been re-playing, almost literally, at least symbolically as well as in price depreciation, in the markets, which in turn merely reflect self-doubt awakened in our culture, and brought home again and again - in one bankruptcy and fraud and disappointment and reversal after another, and in the persons of thieving CEOs, dishonest brokers, perverted priests, or a President who increasingly appears as unsure and altogether overmatched as even many of those who originally supported him feared he might turn out to be. The ongoing re-assessment of the '90s, alongside the simultaneous evaporation of stock values and the self-confidence that economic outperformance reinforced, is of a piece with the same macrophenomenon. In terms of stock prices, the skyscraping Clinton Era is already half-collapsed, at least: Breaking its underlying trend may already verge on its virtual erasure. Not just symbolically, breaking the Dow and S&P down so miserably even begins to push us back through the "American Morning" of the '80s. We still don't know how profound the threats to the economy and even to the country really are, but, at the very least, it's a lot more difficult now simply to presume that the next few years cannot possibly be as bad as the Watergate/Oil Embargo/End of Affluence era... (In other words, "FACK!!")