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Strategies & Market Trends : Drillbits & Bottlerockets

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To: SmoothSail who wrote (13)	1/3/2001 8:39:40 PM
From: Patrick Slevin	Read Replies (1) of 15481

Interesting that Bush was meeting with all the Poobahs of business and then right in the middle of a trading day, in the middle of the week, in between Fed meetings, down go the interest rates. Not unprecedented. October 15, 1998 at a quarter after the hour.... It's always about a quarter after the hour. The real time is about 13 minutes after the hour.... The Fed chopped 'em then as well. Threw the market into a buying frenzy, it did. As much as people would like to think that Bush had something to do with this it is doubtful, in my opinion anyway. Unless everyone thinks that Clinton had something to do with the rate cut during 10/98. Now that is something I never considered. EDIT It's so hard to respond to an SI post that no longer am I able to debate. My sense is that, contrary to media opinion this cut makes the proposed Republican Tax Cut more difficult to implement. Someday maybe this device known as SI shall make posting easier. Until then I cannot pursue this.

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