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Technology Stocks : Broadcom (BRCM)
BRCM 54.670.0%Feb 9 4:00 PM EST

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To: Keith A Walker who wrote (3938)6/14/2000 11:53:00 PM
From: Brian Malloy  Read Replies (1) of 6531
 
It will take a while for all this to play out. However, some are suggesting that certain analogies may be made reference this period and the Asian contagion that you mentioned in '98. Clearly, the fed let loose the reins on the money supply back then and they were not in tightening mode. However, the cash hoards that are building on the sidelines at this point are impressive.

Who knows what or if the catalyst to enter the markets for the big boys may be. Perhaps they were waiting for the Fed to act at the end of the month? At this time I expect the Fed to do nothing at the upcomming meeting. They need to look at more data. Watch the action on the Treasury 30 year futures. 32/33 times it has been able to predict the outcome of the Fed meeting once we are 10 days or less from the meeting. Monday will put us in the zone.

Then we just sit back and see who goes first, once the market moves, the rest will be afraid of being left behind and pile in.
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