Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Roebear who wrote (20829)	10/28/2002 5:56:53 PM
From: Jim Willie CB	Read Replies (1) of 36161

something is brewing with the USdollar sudden swoon that was 100 pts in just a couple hours I believe currency boys are setting up for a bond decline or stock decline OR BOTH much talk about Fed rate cuts I personally am betting they wont cut for quite a while the public vastly underestimates the utter bind that the Fed finds itself in now a cut in rates will not help the economy much at all a cut in rates would further undermine the dollar the second massive decline in stocks in 1930 or 1931 occurred shortly after additional followon rate cuts which had little or no effect why should lower rates matter much? lack of creditworthy borrowers are LEGION we might extend the REFI charade a bit longer I have been saying for weeks that the next Fed "action" will hurt both stocks and bonds regardless of a rate cut or rate hike doing nothing has produced a suspended animation the next action will push marginals over the edge the Fed is now at huge huge risk I honestly expect the next Fed action to be a rate cut, but only in the face of a near panic enveloping the markets the biggest surprise I expect is a rate increase before 2004 to arrest the deterioration of the USdollar we have a dollar panic dead ahead !!! / jim

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