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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Justa Werkenstiff who wrote (9574)10/29/1999 9:29:00 PM
From: marc ultra  Read Replies (2) of 15132
 
Justa re<<<<<<
After today's action in the market, I think the probability is greater than 50%. I'll peg it at 75%. Gee, the wealth effect created today going into the holiday season must have made the Green Man dizzy. I don't think he is a happy Chairman tonight.>>>>

I think the bond and stock market may be happiest with a 1/4 point increase with a return to neutral bias. With the recent data the market is smelling the possibility of a soft landing increasing or at least inflation not running away too fast. The Fed may see a taking back of last year's three hikes as appropriate to do the job. This would seem like a very bullish scenario if true but if the broader market can join the NAZ with new highs we still will have that sticky issue of valuations. Looks like the funds all piled in now that end of Oct selling is done. The P/C ration and Investors Intelligence survey which was yelling buy in the face of questionable fundamentals proved again don't get excited by questionable fundamentals when everyone seems gloomy

Marc
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