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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: JDN who wrote (7664)5/4/2000 7:37:00 AM
From: Tommy Dorsey  Read Replies (4) of 9427
 
Although the government would like you to believe that inflation is under control and so would greenspan the proof is in the money supply. As he flicks the lights at the party where everyone is already drunk and wearing the lampshade on their head, he quietly refills the punch bowl. Money supply is still growing by a massive amount. His raising rates has done nothing to slow the growth of the economy. Last week the janators union won a total including health care fo about 50% increase. US air flight attend. did same week before. Other unions are going to do the same. This scares greenspan and probably will result in a 50 basis point increase next time. But that does not mean anyting unless he begins to take money out of the system. We are only fooling ourselves thinking that productivity is offsetting wage inflation. For some reason the media are complicent with the government on this. Watch the papers and you will see another union force a major raise for their members. I don't know which one yet but watch, it will happen. I don't know if your statements from others on inflation are true or not and I guess it doesn't matter. What is, is. This is one reason the REIT's we have been recommending have been doing well.
I would get to know the option business very well as I feel the covered writer will fair best this year. Implied volatility is very high and there is a need for hedging positions. T
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