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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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To: Jorj X Mckie who wrote (35572)	12/21/1999 12:33:00 PM
From: pater tenebrarum	Read Replies (3) of 99985

JXM, well that's the $64,000 question...i have heard vague rumors of the impending failure of several smaller banks as well as an LTCM style disaster lurking in the background, but none of these could be confirmed so far. i really think it's just a vague fear on the part of the Fed regarding Y2K. perhaps they have reason to believe it will be worse than officially advertised, but even so, what is accomplished by inflating the bubble further ahead of the event? imo it would have been better to stand ready to provide liquidity in case Y2K becomes an 'issue', not before. now they have basically shot their wad, after all weekly M3 growth of 30 billion dollars is a hard-to-top exercise. it looks like they are panicking before there is even a reason to panic. hb

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