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Gold/Mining/Energy : Gold Price Monitor

GDXJ 124.09

-13.6%

Jan 30 4:00 PM EST

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To: TD who wrote (48115)	2/5/2000 11:07:00 PM
From: long-gone	Read Replies (1) of 116956

February 3 Of Coarse Greenspan Targets Stocks: He Just Can't Aim Greenspan has tried his hardest to shoot equities down, he just has bad aim. Why he doesn't target margin rates is baffling, but with another large rally he may be forced to expand his repertoire; verbal warnings and interest rate hikes have not ended the equity mania which is one of, if not the most important element which keeps this economy hot. As the markets putted through yesterdays ¬ point rate hike with ease, a growing hum heard across Wall Street was that the Fed is not, nor has he ever been targeting the stock markets. One analyst actually went so far as to say the very idea was "ridiculous". Ridiculous??I think the thought is at least a plausible one, isn't it? Let us not forget that these same analysts are the ones which assume stocks will not collapse since the Fed is so "on the ball". Why is cutting rates to ensure stocks don't crash any different than raising rates to curb rallies or control the wealth effect? The problem with the notion that the Fed doesn't take into account high stock prices (cont) fallstreet.com

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