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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 240.23

-1.2%

1:17 PM EST

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To: GST who wrote (114476)	1/5/2001 2:13:12 PM
From: craig crawford	Read Replies (1) of 164684

>> Craig -- what are your points of comparison? "It is very rare, but possible for markets to go down in spite of the Fed's best efforts. But it NEVER happens right after massive Fed easings!" << Well in '29 the market didn't come back after Fed easings and we had the depression. In the 1990's the Nikkei went even lower after rates were lowered. There are plenty more examples where the Fed has stopped the bear dead in it's tracks ('98 for example), but I'm not sure they apply here, because this bubble is greater and has dropped much further. So it will be harder to come back from. This is all so funny. You want to know the truth? I agree with you and Victor more than I do with William, even though William and I are bullish now and you and Victor are bearish. I think the only difference is our time horizons. I think we make a run to 3000-3500 before turning lower, you think we go straight down with very few spikes (or extremely weak spikes) along the way. We just aren't going to get that total panic and capitulation you are looking for a few days or a week after the Fed cuts fifty and a few weeks before he cuts another fifty. I could be wrong, this could be the greatest sucker's rally of all time. But history is on my side. Even if for only a short time, you just plain get LONG ahead of a 100 basis point cut by the Fed. I guess if I am wrong I will have to learn the hard way, but I want to see the proof. Look no further than the asinine Nasdaq bubble party we had in late '99 early 2K. That was all courtesy of Mr Greenspan and his easy money. If the Fed wants stocks to stabilize or move higher then it will happen (in the near term). There is nothing anyone can do to stop it. I am quite confident that if we start slipping towards the lows again Greenspan will not hesitate to cut rates again even before Jan 30-31. That might be unprecedented, but these are highly unusual times, right? The Fed has FINALLY figured out that falling asset prices in the Nasdaq are affecting the economy. All the speculators have been cleaned out. He has no worries of cutting rates as aggressively as needed to stabilize the markets here and save the economy. It is OBVIOUS that he has no focus on inflation now. All his focus is on stabilizing asset prices so he can stabilize the economy. If the markets have a hard time stabilizing he will do whatever it takes to get what he wants.

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