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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 75.26

+1.2%

Jan 15 3:59 PM EST

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To: Eric who wrote (28764)	10/20/1999 12:53:00 PM
From: Gerald Walls	Read Replies (1) of 77400

If you look at past market history when there is a significant turning point it has almost always been the result of the "third rate rise". Psychologically this would be very damaging for the market. My belief is that the Fed will hike once more regardless of how benign the economic indicators are. Greenspan has it in his head that he's going to take back all of the "Asia Insurance" and the only thing that would stop him is an economic down turn, not just a slowing of growth. The only question in my mind is if he'll continue to beat on the market by stringing us along a while more or if he'll do it at the next meeting. If it's not done in November I don't think he'll do it until after Y2K. (The Fed meets in early November and mid December, right?)

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