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

To: HairBall who wrote (14375)	5/19/1999 4:50:00 PM
From: pater tenebrarum	Read Replies (3) \| Respond to of 99985

LG, i guess the market doesn't really trust one-day rallies in the bond anymore. my own guess is that both the oversold condition as well as the put open interest on the bond contract make for a good short term floor for the bond. that should support the stock market for a few days at least. i am certain that something will upset the stock market in the intermediate term, due to the extreme bullish sentiment. i am not sure though if interest rates will be the culprit, the strength in the utilities seems to contradict that possibility. maybe japan or china are going to lay an egg, i don't know. something's going to happen and it'll probably be completely unexpected. well,the last hour looked good. the strength in selected internet issues bodes well for the near term if it can be maintained. i have observed that they tend to run ahead of the market as a whole. regards, hb