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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.34

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Nov 3 4:00 PM EST

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To: Haim R. Branisteanu who wrote (29829)	10/15/1999 9:16:00 AM
From: Matthew L. Jones	Read Replies (3) of 99985

Give me a break. I have yet to understand the mentality of those who feel guilty about prosperity. Are some stocks way overvalued? Of course. However, IMHO, Alan Greenspan with his reckless jawboning has cost the small investor much more than he has ever cost the big money who is always ahead of the game and well hedged. If the markets are allowed to run freely, they will correct themselves without all of the violence and pain. When MSFT gets too expensive, people will quit buying it. When people quit buying it, a few sell it. When the price begins to drop, more people sell it until it gets to where people think it is a good price and start to buy it again. If left alone, this is a naturally occurring process. When the Fed creates a panic in the market it hurts the little people. The problem with this market is the fact that it is not a free market. As long as we have no gold standard and as long as we have a central bank system, we are destined to have a boom-bust market. What we have is Keynsian economics at it's finest <G>. You may have guessed that I am a Friedman proponent. I guess that maybe a case could be made for blowing up the whole stock market and starting from scratch, but frankly if I wanted to live in that kind of a mess I would move to Russia or eastern Europe. Matt

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