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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (65663)5/3/2000 3:17:00 PM
From: ItsAllCyclical  Read Replies (1) of 95453
 
Expect a 50 basis point increase...

The central bank's policy-setting committee meets on May 16 to decide whether to jack up interest rates for what would be the sixth time since last June. A growing number of analysts are forecasting that the central bank will opt for an aggressive 50-basis point boost to slow the economy.

``With no real players out there and no real demand and some skittish money coming out of the marketplace, this is the reaction you get,'' said Arthur Hogan, chief market analyst at Jefferies & Co. ``We're less than two weeks away from the Fed meeting and there is a growing constituency that the next rate hike will be 50 basis points and that's bad for equity markets, allegedly,'' Hogan said.

biz.yahoo.com

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In the next two weeks the market will price in a 50 point increase imho. We'll probably retest, maybe even make new lows. I think whatever lows we make will likely be the lows of the year. The worst will be behind us and the market will slowly rally back again. Tempted, but still have not bought anything.

If we retest the Naz lows I will start to buy techs again as I believe any new bottom will be short lived.
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