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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Wally Mastroly who wrote (9812)11/12/1999 6:35:00 PM
From: Justa Werkenstiff  Read Replies (1) of 15132
 
Wally: Re: "Prior to today's econ. reports, speculation continues on possible rate increase."

I don't think it matters at this point. S & P 500 and DOW are on the launching pad ready to test the highs on the green light from the Green Man. If he raises rates, market will see that as positive if bias remains neutral. If they maintain a tightening bias along with raising rates, market may have difficulty which might be what the Green Man wants. After all, it does not take a genius to figure out what the markets are ready to do come Tuesday if they get what they want. Watch that discount rate too. He can play that card.

If he does nothing, market will also see that as positive short term absent any bad numbers regardless of the bias. They will say he sees the new era and embraces it. However, if we do get bad numbers between November 16th and the next meeting, bond market will think he is behind the curve.

I think this meeting will determine the extent to which the Green Man is stock market obsessed. The market is ready to rally hard here if the Green Man gives the green light. Anybody can see it. Will the Green Man do anything about it? I would bet that he does.
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