LG, I'm convinced that you could teach a TA class using that GE chart.
Looks like the powers that be are not quite ready for a melt down. While the CPI turned out as I expected, my wife tells me I'm full of sh*t and should visit a grocery store occasionally. <g>
Now, we get to watch Mr. G move his lips some more and, as usual, not say anything. However, you better believe the bears will try to regain control. Did you see the IMF bailout hearings in the House last fall? RFK, Jr asked Mr. G a question. Mr. G spent about about 5 minutes responding. RFK, Jr said 'Mr G that was a very eloquent response, but you didn't come close to answering my question.' Actually, the follow-up was even more amusing, but the point is that spin control is all powerful.
I really wouldn't want to be the fed. They know if they don't throw some water on the Market, they will have a blow-off on their hands. But, do they really desire to put on the brakes in front of the Y2K mania that they know is coming. Talk about being between a rock and a hard place.
Now, I asked the thread this question before and I'll do it again. How many of you will have the ballz to be holding a large equity position on 12/31? More importantly, when will folks go to the sidelines and will it be cash or bonds. I know that this question goes out a little farther than what the Market is going to do today, but this is the question that the fed has to struggle with.
Goodnight
Berney |
