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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (32033)	6/24/2000 7:31:00 PM
From: James Strauss	Read Replies (3) of 50167

Which Way Will It Go??? ************************** Interest rates are the prime market movers along with earnings... There is a good chance that the FED will be neutral on Tuesday... At the very worst we could see another 1/4 point rate hike... Then, that will be it for the next 6 months... Historically, the end of a rate hike cycle has been good for the equity markets... The chart of the NDX which has the largest of the high tech stock companies has swung over to the oversold side... chart.bigcharts.com. Note the falling Stochastics and Williams %R... I'm looking for a dramatic upswing some time on Monday, but not later than Tuesday afternoon when the FED closes shop... All that negative talk by analysts about the indexes possibly revisiting the May/March lows is for the benefit of FED ears, to create an atmosphere of a cooling market... It's designed to counter the FED's Wealth Effect argument... So, don't be surprised if there is more turbulence on Monday and Tuesday... In the end, when the FED stops raising rates the market likes it... Focus on that, and you'll know what to do... Jim

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