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Copyright
1996-2004 by CTCR, Inc.
Futures trading
is risky.
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HOTLINE AT CTCR
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Dec.
13 Hotline
(Dec.
13, 1999) I still
look for this to be a sluggish bull market. The underlying liquidity is very bullish.
Monetary growth is expanding wildly and people are pouring money into mutual funds.
In addition, this is a very bullish time of the year. However,
breadth remains poor. The weekly Advance/Decline line hit a new low for the year.
It's not supposed to do that in the midst of a bull market. Also, I am less bullish
about bond yields than in the past. I'm concerned that the economy will rocket
higher in the first quarter and cause the Fed to raise interest rates. Just look
at the Dow Utilities for a confirmation that interest rates are not coming down
any time soon. The bottom
line is that I look for the market to continue higher but it won't look pretty.
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