Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

Actually, JDSU is in breakout mode (I commented on it earlier today). I would rather play JNPR, though.... And yes, from the point of view of available fuel for a market advance, the high MZM is indeed a source of funds, but don't expect it to go to $4 T anytime soon. if that were to happen, a huge spike in interest rates will clobber the market in a real bad way. A full $2.8 T is in notes and bills, the rest short term commercial paper of corporations, if $3T of MZM went to equities, the $3T in short term debt out there will have to be replaced, or economic slowdown will occur. Note that M2 has been declining now since September (data up to November), an average of 5% on an annualized basis. That series better start and pick up speed, or the 2005 recession will happen this year (g).