Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (50041)	1/21/2001 11:50:29 AM
From: Lee Lichterman III	Read Replies (2) of 94695

This looks really tough to call for me. My stuff says down but as I said, the liquidity thing is a huge unknown. The liquidity injections are getting larger and larger and I think I read we surpassed the levels prior to the Y2K scare. Injections that large can override a lot of factors but otherwise, I think we could revisit the 1280 area on the SPX. The quality of last week's bounce was pretty poor. Warnings ignored, bleak future guidance ignored etc. Yes it is bullish when bad news is good but that news has to come back to haunt eventually. I don't see AG cutting 1/2 next meeting. That size of cut is very very rare and now that he did it once, I think he will likely cut 1/4 and see how things go for a while. Especially since he has now seen that irrational exuberance is alive and well still on wall street. Even the dot coms bounced last week for cryin out loud. I still say the cure is to raise margin requirements which would put the nix on a lot of this market volatility and let more money go where it is needed. BWDIK Good Luck, Lee

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