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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.03

-0.1%

Dec 9 4:00 PM EST

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To: jmootx who wrote (65702)	1/3/2001 3:21:23 PM
From: eichler	Read Replies (2) of 99985

Hmmm... I agree the rate cut is a great stimulant for a sliding economy, and not too bad for the market either <gg> However, I wonder if the fundamental picture of a contracting economy suddenly reverses because the FED in a panic-y manner drops the rates 50 bp? Does this mean the bankruptcies will reverse, lay-offs reprieved, earnings rosy now? Now that the FED has capitulated, basicly admitting they were wrong in not cutting rates 1/4 pt last meeting and showing how out of control they are and suggesting things are as bad as they appear in a panic-stricken gesture to goose the economy, damaging their credibility.... well, I just have trouble convincing myself there won't be a retest of the lows, or lower lows to come for that matter. Your certainty we have bottomed is impressive. Guess I'll have to watch and learn some more here. gg Regards, Eichler Your call at the top was impressive, hopefully your call for the bottom will be equally so.

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