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

To: Jack T. Pearson who wrote (5189)	2/2/1999 12:59:00 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

Jack: I am not saying the Market is there yet, but once share prices begin to drop (Indices), it will grab investors attention. It always does... Regards, LG

To: Jack T. Pearson who wrote (5189)	2/2/1999 9:11:00 AM
From: James F. Hopkins	Respond to of 99985

Hi Jack; That drop in late July early Aug last year was more percentage points than any drop since 87, What cause it ? Remember it was what caused the LTCMs' derivatives to get in trouble, so we did a second drop , that would have been much worse had Creemspam not helped out his investment banker friends with piggy back rate cuts. By now maybe they have unwound those derivatives and he may not be prone to cut rates again, and taht seems to be what the market is living on, ( cheap margin rates ). I saw 1270 as resistance , well we made that yesterday but not with conviction. --------------- What news did we have July 17 to July 20 last year that started us down, and while the market has bounced back I think a lot of people remember taht fall if not the news. What happens today if resistance fails..1st support is about 1230, I think we will test it this week. Jim