VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Jill who wrote (33858)	3/16/2001 6:06:11 PM
From: CAtechTrader	Read Replies (2) of 65232

Plunge Protection Team is a myth of sorts...perhaps an occasional foray into the Index Futures...but only for very short term stabilization. An Equity itself has never shown on the Fed's balance sheet...the PPT is really a Currency Stabilization Fund. If AG was going to print money, why has he let the Fed get so far behind the curve? Deflating things? AG is enjoying being behind the curve. AG did not even bite on the opportunity to cut of the "Japanese" problem this week. I expect no more than 50 basis points cut on Tuesday. The Fed has never cut more than that at one time...ever. The key will be the language of the statement about further expectations and bias. The market will be disappointed as the market has let itself be seduced by shortsellers who have set up expectations for a 75 basis point cut...again the Fed has never cut that much ever, so it gives the shorts a really low risk bet on the short side when the market is "disappointed" on Tuesday. AG is not going to print money nor buy in equities. The market will have to overcome this largely by itself, which it can do. I still maintain that the market did well over the past 15 years DESPITE Greenspan, not because of him.

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