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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked
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To: Glenn who wrote (153)11/15/1998 12:05:00 PM
From: Rick Faurot   of 90042
 
Glenn,

I think Dell has support in low 60s and will see 70 next week. I also think the Fed will cut 25 basis points Tuesday. Most economic analysts (as opposed to market analysts) say that the rate cut is inevitable to support continued liquidity in credit markets, which had tightened to dangerous levels after the hedge fund debacle. Greenspan obviously hates the idea of cutting into a hot market and relatively solid economy, but the credit markets issue has him over a barrel, IMO. I don't think a cut will reignite the market as the last one did as we have had such a huge recovery already, but some stocks will benefit and I think Dell is one. Its numbers were good and it is still a darling of fund managers and brokers.

Rick
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