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Technology Stocks : JDS Uniphase (JDSU)
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To: mtnlady who wrote (18490)2/14/2001 8:20:40 AM
From: t2  Read Replies (3) of 24042
 
The only thing holding this market up was the Fed. Now with them stepping back a bit from such an active stance there is nothing to hold this market up

This is where I disagree...the FED is not going to step back. The market has misunderstood Greenspan's comments and the only way to correct it is to cut rates and show people he means business.

Right now a dropping Naz is going to hurt consumer confidence and Greenspan will not want to take any chances, IMHO. I believe he is more concerned about the market and its direct impact on the economy...negative wealth effect and loss of confidence.

Actually, I would be happy if the bears don't cover until the actual cuts so that we get a better lift in the market.
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