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To: Jeffrey D who wrote (8891)	9/27/1999 9:30:00 AM
From: Wally Mastroly	Read Replies (3) of 15132

A little more Abby-baby; & FED fellows still on the stump.... dailynews.yahoo.com - Some excerpts: > ''After last week's debacle, you should have a meaningful recovery in prices this morning,'' said Hugh Johnson, the chief investment officer at First Albany Corp. in Albany, N.Y. ''It makes the market modestly undervalued for the first time since September 1998.'' Johnson referred to bullish comments made Sunday by Goldman Sach's influential analyst Abby Joseph Cohen and said he agreed that the conditions do not exist for an extended bear market. ''Today we think stocks are only modestly undervalued,'' Cohen said at a World Bank seminar. ''That suggests to us that stock prices can continue to rise but they will do so in a way that is more commensurate with the actual improvements in our economy, in our corporate profits and the outlook for inflation and interest rates.'' She also said the prices of large technology companies offered ''very attractive'' value. < - And FED Rubber Chicken Watch (as Brinker might say): > Several Federal Reserve officials were scheduled to make speeches Monday. In the morning, Federal Reserve Governor Laurence Meyer and Federal Reserve Bank of New York President William McDonough will address the Institute of International Bankers. Elsewhere, Federal Reserve Bank of San Francisco President Robert Parry will speak on monetary policy. Monday evening after the markets close, Fed Chairman Alan Greenspan will deliver a speech entitled ''Lessons from Global Crisis'' at the World Bank/International Monetary Fund annual meeting. <

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