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Politics : High Tolerance Plasticity
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To: The Ox who wrote (2032)3/20/2001 3:54:50 PM
From: cnyndwllr  Read Replies (2) of 23153
 
Michael, I think you are right in cautioning against fighting the fed at this juncture. Just as the fed erred by raising rates too far only to see the raises take hold more strongly than they wanted, they are fearful of cutting too far and too fast and seeing inflation take hold. The types of problems that we are seeing in the economy in terms of reduced demand are problems that the fed is very capable of correcting unless inflation gets out of control.

The earnings season will be dismal but will the mrkt "buy" the bad news. I think there is a good chance it will unless the bad news is relatively worse than expected or unless energy problems gets worse and overcome the expectations of a pickup from the rate hike.

Having said that (gg) I have also sold out of my large oracle bet for a measly 1/4 pt gain and feel lucky to be out. A little safety goes a long way in this type of mrkt.

OT (if we have that here), I looked at the other oil threads and Big Dog's thread is a great read to go along with this one, and the Strictly Drilling thread is dismal in both content and tone. The two main posters are eaten up with resentment and bile and the level of the cult-like followers has deteriorated so that now there are only a few readable posters there. Ed

PS, 1862 as I type. Is it time for another history lesson from Kodiak?
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