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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (12757)	10/4/2004 12:32:22 PM
From: mishedlo	Read Replies (2) \| Respond to of 116555

From Hunnj on the FOOL In late 1999 AG was desperate to pump up liquidity in front of the Y2K problem, touching off an enormous bull run. M3 rocketed up $44 billion last week. Late 1999-like growth. The QQQ's have now gapped up on the open two days in a row. In 2004, is he desperate to get W reelected? Or to avoid something else? The QQQ's touched the upper 50DMA 2.5SD Bollinger Band today. This typically only happens in cycical bulls or in a last gasp before a bear run. Even in bull markets, a touch of the upper 50DMA 2.5SD BB, has always set off an overbought correction within a few days -- except in the last half of 1999. So, there's a good chance we'll know in a few days if AG has managed to blow yet another bubble.