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

To: GROUND ZERO™ who wrote (3614)	1/10/1999 5:06:00 PM
From: dennis michael patterson	Read Replies (1) \| Respond to of 99985

Glad to hear it. I am watching the tapes of Armstrong the PEI guy from last October 24-25. He just said "the best way to play the US markets for the next 12 months is on the short side." Sheesh. I want a refund!

To: GROUND ZERO™ who wrote (3614)	1/10/1999 9:49:00 PM
From: HammerHead	Respond to of 99985

forward New on Dr. Ed's Econet: COMMENT: The coordinated cut in interest rates during last year's fourth quarter triggered a buying panic in world stock markets, including Asia but excluding Latin America. The melt-up is likely to continue through the end of January, despite falling commodity prices--usually a bad omen for corporate profits. For now, the extraordinary (irrational) exuberance for Internet stocks will continue to induce market players to forget about mundane issues like profits: "To infinity and beyond!" Well, at the very least, Dow 10,000 can be easily achieved in a couple days trading, a year ahead of the "10,000 by 2000" mantra that I chanted from 1995 until last summer, when I started to worry more loudly about what might go wrong. The market might soar beyond this magic level and hit infinity by mid-year, but then deflation, profits, and Y2K could bring us all back to the planet earth mighty quick. SUBSCRIBERS: In my latest Topical Study, I update my "Economic Consequences of the Peace" theme. I make the case for Dow 15,000 by 2005, but first Dow 6400 during the year's second half. I also discuss the good, the bad, and the ugly versions of deflation. In my latest Global Economic Analysis, I explain how a euro capital market is likely to create more prosperity and jobs in Euroland. PUBLIC: At the end of last year, I wrote four Y2K Reporters analyzing the third quarter SEC disclosure filings of the S&P 500 companies. I didn't get a warm, fuzzy feeling from these filings, so I still expect a Y2K recession next year. I invite you to vote on the economic impact of Y2K at yardeni.com, and compare your opinion to over 1000 others who voted since Dec 26. You may be surprised by the results. MOVIES: "The Thin Red Line" was thick and too long at three hours. "Hilary and Jackie" isn't about the first lady and a close friend, but rather two first class sisters played by two first class actresses.