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Yes, IRA is right on. NYA, broad mkt index, high today of 653.05, and the upper trading band yesterday was 653.04, with a McClellan Oscillator reaching into commonly accepted overbought levels. Risk of being long, at least short term, is as IRA suggests. BobR ----- Original Message ----- From: "Ira Tunik" <ist@xxxxxx> To: "realtraders" <realtraders@xxxxxxxxxxx> Sent: Wednesday, December 27, 2000 9:11 AM Subject: [RT] nasty things > Things could start to really get nasty if what I see happening in the > commodity markets continues. It appears that almost everything has > turned up. Whether these rallies can be sustained, only time will > tell. The grains and meats are retracing, the currencies are rallying, > and the bonds seem to have run into resistance at current levels with a > retracement in the offing. If there is follow through with the > currencies there will be a battle between inflation worries and economic > slowdown. Look at the labels on anything you buy. It is almost all > made overseas. If the dollar crashes then inflation will be rampant. > Will Greenspan be happy with a 2% growth and level his weapons at > inflation? The Nasdaq only has a few more points to go to reach my > target and that would mean that the Dow would break badly if there was > no action on the interest rate front. Everyone is counting on at least > 25 basis point drop in the fed funds rate and maybe 50 basis points. If > it doesn't happen then the fox is in the hen house. Just some holiday > joy. Ira. > > > > To unsubscribe from this group, send an email to: > realtraders-unsubscribe@xxxxxxxxxxx > > > > -------------------------- eGroups Sponsor -------------------------~-~> eLerts It's Easy. It's Fun. Best of All, it's Free! http://click.egroups.com/1/9699/0/_/152424/_/977938096/ ---------------------------------------------------------------------_-> To unsubscribe from this group, send an email to: realtraders-unsubscribe@xxxxxxxxxxx
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