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Strategies & Market Trends : Rande Is . . . HOME
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To: jjetstream who wrote (43660)12/16/2000 10:59:13 PM
From: American Spirit  Read Replies (3) of 57584
 
I think you underestimate Greenspan's caring about the market. It's not just MSFT at 50 it's hundreds of little companies whose stocks have gone down the toilet, mostly internet firms. Like my ESHR selling at 50% under book and being valued at 2x cash in the bank or 14 million, just 1/4 of one years revenues. That is absurd under-valuation for a relatively healthy company.

He can staunch the bleeding for companies like this, companies which millions depend on. Also for MSFT as it should indeed be worth at least $50 a share.

A little unemployment is one thing. Mass layoffs first in America then globally are another thing. He can't be responsible for that.

Come to think of it he IS the most powerful man in the world (except militarily when thre's a war). I'm sure he takes that responsibility seriously. And this is NOT a soft landing we're experiencing. Aggravated by the election malaise it's the risk of a meltdown. But Greenspan can stop it without betraying his own beliefs. He must make a strong statement indicating lower interests rates if not cutting. That should give the market a lift. With this hope in mind I don't see much of a sell-off tomorrow (hopefully). Instead I see it being flat and wait and see. I for one am not going to sell a stock which was 20% higher just a week ago. Nothing has changed. The MSFT slowdown was to be expected. Just panic. Greenspan must make sure he stops the panic. No one else can right now.
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