Piffer OT - And Other Assorted Nuts Message Board

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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts

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To: Jorj X Mckie who wrote (11332)	12/31/1999 1:12:00 PM
From: The Phoenix	Read Replies (4) of 63513

Jorj, OK don't laugh at me - just because I'm anal. :-) But well... I did look at my macro book. I can't see how the fed propped up the market. The only fed actions are to sell or buy notes - which has the effect of increasing/decreasing the M1 money supply (actually it's M2 since it has to wind it's way through the banking system and then to the consumer in the way of a loan to be effect the money supply) or they can change the "margin" requirements - which is still at 50%. M3 money would include large time deposits which I don't think would have any short term effect on the market. Sorry there Jorj. This time we're going to have to agree to disagree. I don't think the market is being help up by the fed... on the contrary I get the feeling they'd like to take it down a notch..and I get the feeling that if the market was much lower we'd not see any rate hikes next year... JMO. which of course brings us to the crux of the issue... if the market isn't being held up by the fed.. will there be profit taking in early 2000? OG

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