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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum
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To: Jenna who started this subject1/3/2001 2:04:48 PM
From: Dave Gore  Read Replies (1) of 6445
 
Jenna, I had been posting just today about a rate cut this week, but like everyone else thought it would not come before Friday. Many did not know that AG could totally make the decision on his own. I hope everyone used stops. Short positions undoubtedly got killed without them.

It's almost as if AG said to himself..."Shorters have made enough money and longs are getting dangerously killed to the point the economy would be hurt if it goes on." To cut like this midday has got to be almost unprecedented. It tells me he badly wanted to ease during the last meeting, but thought it might spook the Markets.

What a great surprise for me and others and our un-shortable IRA accounts! Those AOL calls I bought yesterday are doing fine as well. I already temporarily sold almost all my long positions near the top with the NAZ up 264, thank goodness, and am now looking to see how the Market reacts after the initial euphoria. For the record I bought EMC yesterday at $54 and sold before the cut at $58-1/4 so you can't win them all, but who knew! WOW!

Any predictions? Will the Markets continue to rise or will the Fed's action send a warning signal about the economy and bother the Markets when they stop and think about it?
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