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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread
VTI 328.64+1.5%Nov 24 4:00 PM EST
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To: Wally Mastroly who wrote (1568)11/9/2001 9:03:29 AM
From: Justa Werkenstiff  Read Replies (1) of 10065
 
Wally: The level of overbought readings yesterday were so high that it did not require much of a catalyst, if any, to get a reversal.

Re: "The information reviewed at this meeting suggested that the attacks of September 11 might well have induced a mild downturn in economic activity after several months of little movement in the level of economic activity."

Mild? Mild??????????????? Greenspan has been chopping rates like a crazy man and yet they say that all they are afraid of is a "mild downturn?" Well, leave it to the Fed. to potentially understate any problem. After all, it was Fed. consensus that this was just going to be an inventory correction at the beginning of the year and that by now we would be on track. Now they will blame Sept. 11th for the economy. Not entirely accurate.. We were winding down anyway in the post bubble and that event only accelerated things.
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