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

To: HairBall who wrote (14407)	5/20/1999 12:21:00 AM
From: Roebear	Read Replies (1) \| Respond to of 99985

LG, RE: our previous observations on interest rates, I found these comments by Don Hays to be interesting, note he also expects a flat trading range for a week or so. The article has got my wheels grinding again, though my wheels are too pooped right now for any conclusions. Perhaps some "dreamworks" during sleep will engage my subconcious for some overdrive power to aid my slipping cranial transmission, failing that I hope to hear your opinion (VBG). For the full article click on the URL: wheatfirst.com But we are not counting our chickens before they hatch. It is true that the bond market has been weaker than I expected, and that is giving us a little heartburn. But so far it still has not broken the mold that we have built for it. We know from the last three decades of following markets, that usually there is one big "hook" that surprises everyone, and sends everyone following that "hook" off in the wrong direction. This year, that "hook" could be the bond market driving the long-term government bond yield through a strong support level. That level, which everyone is watching is about 6%. Unless all the other signs tell us that our scenario is WRONG (oh let's not talk about that possibility) we would consider that sole occurrence in the bond market as an anomaly that is producing another outstanding buying juncture. That's it for today. Back to watching this critical juncture. If I am right, we will have to toss and turn a lot in the next 5-7 days as the market teases and taunts us all. EOA Best Regards, Roebear