Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 260.77

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Dec 24 12:59 PM EST

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To: Gottfried who wrote (42808)	2/28/2001 11:06:20 AM
From: Shoibal Datta	Read Replies (5) of 70976

Man, does this all feel like one long bad dream. Those December-January happy vibes seem like a distant mirage right now.I can't believe how psyched the "collective" market tends to get about these truly pipe-dream things like immediate Fed cut, what with Wayne Angell bulling it from 60% to 80% likely over the weekend. And today, Greenspan is basically saying nothing new, Mr. Angell recants his optimism and says that an inter-meeting cut is not likely (it was 80% likely yesterday!), and the psychotics in the market have just been unlocked from their pens. I do believe that the Fed should not sit there as the savior everytime the market dips. It did not have a part in the crazy 1998-2000 run. It is perfectly justified in refraining from cutting rates every 3 weeks now. They have a different charter and the stock market is only a part of it. Think about this possibility - what if the Fed did not raise rates to slow the economy. Would be sitting at NAS 10,000 now? Who would be left holding the bag when the bubble burst?

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