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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: robnhood who wrote (14748)	3/9/1998 8:17:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 18056

russell, I think it is distribution in stocks, but not in the bond. I have a lingering feeling that our boys and BOJ have an understanding, when we go too much under 6%, get some of your bonds back, when we go above 6% stop for a little while. Your two three days cycle might be just that. I also think that this will stop after April 1st (why get the low interest Japanese bonds dish out when uncle sam is willing to pay such high interest rates?). The divergence between high tech and the Dow will continue, probably a little longer. But if history is any guide, the generals follow the troops, and right now the troops (as measured for instance by the sinking SOX, are in full retreat, IMHO. Zeev