Watch the SP & Nasdaq -- key reversal in the making -- not looking too good. Long bond dropping further.

Wave

-- Wave (eades1@flashcom.net), January 03, 2000

Answers

On CNBC they keep referring to the inability to show some ticker symbols has been been caused by y2k glitches.

??????

-- MMireles (MMireles2@hotmail.com), January 03, 2000.

Must be the post-Y2K euphoria.

-- TM (mercier7@pdnt.com), January 03, 2000.

Don't jump too fast. First trading day this year. Not that I know anything at all about the market but (and just take it for what is worth -- dont jump down my throat) a friend who has made his living for over twenty years as a professional trader said tells me there will be a lot of profit taking this week.

I remain, waiting.

-- Michael Erskine (Osiris@urbanna.net), January 03, 2000.

Serious folks looking for y2k glitches are watching the markets to make sure trades are going through ok and that money is switching hands properly. What the DOW does as far as up or down is immaterial to y2k.

If anything the DOW dropping is a sign that they fear a rate hike caused by y2k not being as bad. After all, the Fed was going to boost it a week or two ago and chose to wait to see what y2k would bring. Since (obvious to everyone but folks on this board) it was more or less a "non-event" experts see a rate hike as inevitable. This pushes the dow down.

-- Mike (mike@noemail.net), January 03, 2000.

Yeah and mutual 401K inflows are supposed to buoy the market in early Jan. and the first few days of Jan set the pace for the rest of the year -- all I know is that a key reversal in the daily timeframe can be significant.

Wave

-- Wave (eades1@flashcom.net), January 03, 2000.

I am stock market ignorant, but I am wanting to sell my house in the next couple of months. I live in AZ in a very hot growth area. What,if anything, kind of outlook is there for interest rates as far as mortgages go? I had read that many countries might dump alot of money into treasury bills because of Y2K fears which would lower interest rates.

-- B.Clark (mrmomx6@aol.com), January 03, 2000.

B Clark

It will be just the opposite now that y2k was a non-event. Unless the rest of the world has insurmountable problems, the safe-haven approach to investing is going by the wayside. You better take whatever fixed-rate you can get now because the outlook for rates in the next two-three years is coninually upward.

The long bond is more indicative of mortgage interest rates than the short term stuff and it is up 5 basis points today.

-- William R. Sullivan (wrs@wham.com), January 03, 2000.

NASDAQ was probbily hit by that same car that has been hitting all those telephone poles. Check the driver, I bet it is a squirrel!

-- P.J. Scott (rwcapitalmanage@aol.com), January 03, 2000.