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

To: Gersh Avery who wrote (7013)	2/24/1999 11:40:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 99985

Hi Gersh; Ya things started looking bad about 2pm today, and just got worse right up to the close. The Bond yield went to 5.5 for a bit and I think some big players saw that as breaking support. The dollar was making a rebound, and of course any time it changes value much faster than the 30yr rates, they either sell or buy bonds to capture the spread. It's a racket of sorts , the currency markets are run by racketeers who work in collusion to skim the system, first one way then the next. The falling dollar helped stocks ( short term ), but in the longer run if it keeps falling it causes inflation , it's like a catch 22. After it's fallen if it starts back up, then they pull dollars out of bonds, rates go up and if stocks don't go down when rates go up then we set up the BIG drop. --------------------- The worst falls we have ever had were after both stocks and interest rates went up at the same time. To some extent we were having just a little of that quote.yahoo.com^TYX&d=3ms Looks like the market may have a comfort range between 5.1% & 5.3% for the time being, above that it gets spongy. Now I need to chart the dollar over the 30yr bond to see where it's been kicking in and out. ------------------------- It's all crooked you know, ( but not against the law ) <G> Jim