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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.73

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Dec 15 4:00 PM EST

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To: Kemo Sabe who wrote (70752)	2/28/2001 10:17:43 PM
From: Psycho-Social	Read Replies (1) of 99985

Re Inter-Meeting Rate Cut: I believe the Wayne Angell prediction of a rate cut to occur on Mon or Tues, but almost certainly this week, was a major embarrassment for Greenspan. Angell's grandstanding, made more credible by the fact that he has made several "good calls" on prior Fed moves, created a potential for the investment and political communities to believe that Angell had "the inside track" on Fed policy decisions. To counter this, Greenspan had to embarrass and discredit his ex-Governor (and ex-friend?) by proving him wrong. I believe that, now that Angell has retracted his "sure thing" statement, Greenspan may lower rates, but not this week. Perhaps, if the employment report is weak next Friday, that will give him a legitimate reason. I know this scenario can't be proved or disproved, but that's my take.

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