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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Justa Werkenstiff who wrote (9560)	10/29/1999 6:15:00 AM
From: Justa Werkenstiff	Read Replies (3) of 15132

Greenspan Speech Well, I looked at it and found nothing new really. Last night, I checked the futures and saw a negative reaction. I then checked the wire headlines and saw a negative spin. But I thought the speech had something for everyone depending upon your mood. The futures suddenly changed positive and then so did the wire headlines. But now the futures are such that they are overreacting to the upside. There was plenty of hawkish comments in the speech but the market does not care. I guess it does not care about Greenspan's focus on the stock market values anymore at least for now. I guess the wealth effect does not matter anymore. I guess the tight labor market is not a worry. I guess the promise of huge holiday demand is not an issue. I guess the CIBCR is not a problem. Who cares about the weak dollar anymore. The market is extremely volatile and seems to be in an oversold rally based upon one economic number that came in line with expectations. Well, it is the end of the month and time to paint that tape for the mutual fund managers.

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