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Strategies & Market Trends : Join stock club--Tang Fund
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To: Arthur Tang who wrote (137)9/20/2000 5:56:50 AM
From: Arthur Tang  Read Replies (1) of 145
 
Tax loss season starts in October; will Greenspan have $10 billion cash ready at the NY overnight discount window?

It has been a tradition since the Bush administration. In 1988, the Feds were told to have $1.5 billion ready at the discount window to forestall any 1987 crash(it cost Feds $1.5 billion to resolve the problem of two specialists going under, with the support of Merrill Lynch) tendency. It was successful and has been a tradition for some years. Last year it was $6 billion at the window and never spent a dime since 1988.

So, the high flyers will get higher towards the end of the year. The losers will suffer more in the tax loss season. However, it will create a buying opportunity when way oversold will force a January effect.
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