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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (10613)	1/28/2001 11:49:08 PM
From: pompsander	Read Replies (1) of 30051

Zeev: I believe you are absolutely correct that the Fed's preemptive strike on the afternoon of January 3rd stalled the final capitulation. I have spoken with one highly respected money manager who confessed that they had their cash deployed that day earlier and sooner than they might have wished or intended due to the computers kicking in as the 14% Naz rally unfolded. Once in, they have hung on and played out the rally to date. Many managers had assumed if the Fed was going to ease between meetings it would have done so three days later, on Friday, after the (what report was it? - Jobs?)and were positioning themselves accordingly. The earlier move caught many by surprise - the plans weren't in place quite yet. In any event, this rally is in some ways an "accidental rally" for some participants. They are certainly not complaining for being bought in, but also will be even more prepared to exit quickly if the next few days don't play out smoothly. JMHO. Pomp

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