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Gold/Mining/Energy : Gold Price Monitor
GDXJ 97.80+0.9%Nov 19 4:00 PM EST

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To: Zardoz who wrote (64664)2/27/2001 9:23:42 AM
From: Rarebird  Read Replies (1) of 116764
 
This speculative market chose to hear former Fed Governor Wayne Angell, now working for Bear Stearns, who said he thinks an intermeeting rate cut is likely, rather than to former Fed Governor Lyle Gramley, who told CNBC he sees only a one in five chance of an intermeeting rate cut.

Almost all the earnings deficiency warnings lately continue to focus on macroeconomic troubles, not company errors. So the prospect of a looser monetary policy charms this market. Do not believe the hype. The rally we saw yesterday is brief. Earnings are simply not strong enough to support a broad-based rally.

PS CSCO is a good buy as soon as growth begins to turn up.
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