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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: marc ultra who wrote (10270)12/5/1999 3:33:00 PM
From: Justa Werkenstiff  Read Replies (3) of 15132
 
Marc: Re: " This could set up some very interesting dynamics. Let's say this short term flooding of the money supply keeps the party going through the end of the year and perhaps the beginning of 2000. Then at the same time that we should be seeing the end of y2k relief rally money what will the Fed be doing? Assuming the economy should remain red hot and the market will be pushing new highs they will probably want to drain that injected y2k money as fast as they can. So lets say sometime very early in 1998 we should have the markets pushing new highs, bullish sentiment at extreme levels while the Fed will be
trying to cut the money supply sharply and we will be seeing that early year profit taking. Sounds like the set up for possible major problems in the market."

Yep, I think you mean "early 2000." Boy, that Y2K bug is affecting everything and everybody <g>. We cannot quantify the problems presented by Y2K but the market standing alone under the circumstances you accurately describe IMO is extremely vulnerable. I don't know if it will be a "major" problem but the potential is there. I want to have some buying power available to me to take advantage of opportunities presented.

BTW, I have decided to put some money to work in the energy sector tomorrow. I see the sector as historically undervalued in some areas. I also see the possibility of Y2K $30 oil for a short time. If not, the worldwide recovery should provide improving fundamentals for selected companies. All this is in part of an effort to diversify away from technology a bit.

I think FMKT may be going tomorrow.
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