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

To: Don S.Boller who wrote (17613)	3/5/1999 3:07:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 18056

Don, I see you have already stepped in to make peace on this thread. How about some good uneducated guess as to how far this little "Pre Spring Relapse" is going? The turnip have been saying for the last two weeks that a rally should be coming before a spring relapse, so I listened to them. Now they say the NAZ will not make a new high and even the venerable DOW will just spurt here and there. People forget that despite the little rally (Fading already?) in bonds today, we are still well above 5.6% and 6% will probably bee seen before we see 5% again. Under these circumstances, one of the major drives of this bull, interest rates is taken out and we are left with excess liquidity as the only drive (valuation surely is not driving this market). Unlike MMV, I do not see too severe a correction (I have had 8250 to 8400 for a bottom between here and the end of June for quite sometime now), this because I see excess liquidity taking over again sometime in the second half, driven by the start of a major leak from the Japanese Postal saving system. Zeev