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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (43994)10/15/1999 7:56:00 AM
From: Andeveron  Read Replies (4) of 94695
 
>> Great going Greenspan. You'll cause another crash even yet! <<

Bill, it certainly looks like a tragedy this morning, especially since the futures had all night to recover but they're still down about 12 points.

AG has been under pressure to take control of the so-called "bubble" in the U.S. equity markets and he has been fairly reticent in the past. One of his recent speeches even conceded that the high valuation of some stocks could be justified. He took a more serious tone yesterday but I'm not sure that the markets will tank on this. We may see a morning sell-off and a recovery by noon. At least the SPOOS aren't lock-limit down!

Many people on S.I. and traders on the CME are expecting a big sell-off, perhaps even a crash but the market never plays to the tune of the majority. Maybe the PPI will be manipulated to counteract AG and we'll have a normal expiry. <G>
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