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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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To: Chip McVickar who wrote (613)	12/22/2000 2:22:57 PM
From: michel ciambra	Read Replies (1) of 12410

Its all very fishy. I cannot see what business it is of the Chairmans. Unless he is organising a bailout or an emergency loan. This would be seen as an injection of liquidity and act as a rate cut to sentiment. Frankly, they screwed up on tuesday and should have admited they were wrong to have raised as much as they did. Given the market reaction and probable back room pleading from a bunch of CEO's, this could be a face saving opportunity to cut prior to the next meeting. If that happens, its all hands on deck very very quickly. The bond marbket has only just priced in a 25 bp move in Jan. 5 yrs are more or less at 5%. They are the lead indicator in rate moves. I suspect they will be 50bps tighter at 4.55 instantly and that will give the stock market all the ammunition it needs to rally hard. Add to that how much short interest there is out there, not only on the large caps but particularly on the nazz index. Most people trade that as their hedge. I would thin k the nazz will have its biggest ever rally on this news if it comes thru and we could easily be above 3000 very veryu quickly.

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