MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 21 4:00 PM EST

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To: Voltaire who wrote (46711)	4/16/2000 5:06:00 PM
From: KyrosL	Read Replies (2) of 99985

I am not so sure that the Fed wants the markets to stabilize. If anything, I think the Fed regrets "saving" the market in 1998 with what in retrospect seem to be hasty and probably unneeded rate cuts that were probably the main cause of the current mania. There are a number of recent comments from the Fed that indicate that it regrets the "moral hazard" its 1998 action created and it will not repeat it now. The latest is Greenspan's comment that a 1929-style crash need not be followed by 1932-style economic conditions. It is, IMO, the clearest sign that the Fed will stand aside if the stock market crashes even further. Kyros

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