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Strategies & Market Trends : NetCurrents NTCS

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To: Patrick Slevin who wrote (607)	10/13/2000 4:57:15 PM
From: Teresa Lo	Read Replies (3) of 8925

So what did you think about today? You could tell at the close yesterday that today was going to be do or die for the "Rescue Squad". Even Abby was paraded on TV: Goldman's Cohen Says S&P 500 Undervalued By 15% Dow Jones Newswires NEW YORK -- Abby Joseph Cohen thinks the Standard & Poor's 500 index has been oversold and is currently about 15% undervalued. For the intermediate and long term, the U.S. economy should remain strong, said the chair of Goldman Sachs & Co.'s investment policy committee in a CNBC interview Friday. There may be a bit of a slowed pace to the economy, she said, but her firm feels the pace is one that can continue for a "long time." The markets ought to turn around a bit once investors are convinced there's no recession "around the corner." Goldman Sachs, for one, is "not concerned," she said. The "grave situation in the Middle East" may cause spikes in crude oil prices, Cohen continued, but the most likely eventuality the firm has posited is that prices will be at their worst over the next few months but relief should come with the spring and summer. In fact, Cohen said Goldman Sachs believes oil prices will be lower "a year from today than they are now."

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