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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 73.99+3.1%3:59 PM EST
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To: GVTucker who wrote (50060)3/15/2001 8:10:34 AM
From: Monty Lenard  Read Replies (2) of 77398
 
Thanks GV. While I became bearish in 99 and I felt it would be severe I was actually amazed how severe the naz has been and is the reason I covered my shorts way too soon and will not short down at these levels(with the exception of the ones I have been long on until recently AA, DD, etc). Having said that I think the damage has been so severe that a recovery will be a long time coming.

I believe the market has taken the reins away from AG and the 1/2 point rate decrease (the first one) was the signal in my mind that this had occurred. I believe he knows it is now out of his hands and I believe that is why he did not lower the other day as some thought he would. Also, I believe AG postponed the meeting in order to give the markets more time to sell off hoping that this time his lowering will be met with a positive reaction rather than what has happened so far when he lowered. By waiting for the markets to go lower and then lowering rates he may be able to make it appear he is still in control .... if it is met with a positive reaction THAT LASTS!..
I believe that he knows if he lowers again and the market does not react favorably, it is all over but the shouting(meaning that he telegraphs to the world that he has no control at this point).

Right now he is playing a mind game with the market participants.(a game of financial chess)

Monty
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