Zeev's Turnips Patch-No Politics (ZEEV)

[jdaasoc]

didn't we have record MF in-flows in March 2000?

Silly money at market tops goes to money heaven haste post haste.

As long as MFs keep such low cash level as now, market will keep market in narrow trading range saying thank you very much then they will sell the market. If MF's went on buying strike, prices would drop precipitiously. Only way market is going to go up if people reallocate retirement money or more people get high paying jobs or companies pay higher bonuses.

It is getting frightening how much 401K money per month it take to feed street -- GS, ML, PIMCO and Fidelity -- and many day and swing traders like us.

PS futures down foreign markets still don't like Bush Iraq plans