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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (70092)	11/4/1999 5:39:00 PM
From: pater tenebrarum	Read Replies (1) of 132070

MB, this morning, the Fed added over 5 billion bucks to the system via 3-month repo's. somebody suggested to me that this was done to head off a potential negative market reaction due to the European rate increases. i don't know if this is true, but it would fit with the idea that the Fed is engaging in bubble management, trying to head off a collapse and at the same time trying to talk the market down from time to time. how long do you think the current blow-off can go on? i notice that volume on the Nasdaq is hitting rarely before seen extremes, and we have already moved up some 20% in two weeks. i know it can't go on indefinitely, but when do you think it'll finally roll over and die? i remember you bought some Dow puts recently... regards, hb

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