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In a message dated 10/17/00 8:58:03 AM Eastern Daylight Time,
hbernst963@xxxxxxx writes:
<< I'm just wondering how you use this data. If the 3 month ROC of Money
supply
turns down, do you then sell stocks? Or is the money supply data coincident
with stock market moves and not of any use?
Just wondering,
Howard Bernstein >>
the m3 money supply is a LEADING indication of market direction
as long as it goes up market has plenty of liquidity to fuel margin and
give institutions power to do profitable arbitrage
HOWEVER
data on the fed web site is 2-3 weeks old
and what it shows Fri is already an UP turn
(after chart was made)
hope this helps
Ben
p. s Ron M is a better expert on this matter and there are a few economist
on the list who can shade a light on the subject too,
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