Hi Dealer,
This is three days old, but positive, nonetheless.
"Today's surprise action by the Federal Reserve to cut Interest Rates 50 basis
points was welcome news for the markets. This pre-emptive strike by the Fed will
help allay fears of a recession and create the impression that financial performance
will not be as dismal as previously thought. [Or, may be worse?...jjk] Today's action may be the first day of
the next bull market.
" However, there are much stronger reasons to believe the Bull will come back in the
near term. It is estimated there is nearly $3 Trillion sitting on the sidelines waiting
to get back into stocks.
" Stock performance is the life blood of Wall Street. Major Investment Banking firms
don't make money off the small trades from individual investors. Goldman Sachs,
Soloman Smith-Barney, Merrill Lynch, and all the other major names make their real
money off their Investment banking business. With IPOs at a stand still, and merger
and acquisition activity curtailed, the major firms are not making money. The
powers at be on Wall Street will not allow this environment to continue much
longer. There is too much money at stake.
" The Investment Banking industry is intimately tied to the general health of the
stock market. The patient has been very sick for the last nine months, but the
healing process will begin soon, and Investment Banking firms will once again make
their billions off IPOs and the stock options they get for structuring deals.
" We have lived thorough a brutal shake out. All the weak hands have been blown
out. Market Makers own our stocks at ridiculously low prices, and they intend to
sell them at much higher prices....
I am poor but holdin' on to what I have at this point...
Dealie, I'm so poor I can't afford to pay attention...
Joe Poor Boy.....
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