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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Bull RidaH who wrote (111207)	7/4/2001 2:45:01 PM
From: Dr. Jeff	Read Replies (2) of 436258

<<<In the present case, we had a sell-off on the day of the cut, followed by a 3 DAY HEADFAKE rally into Monday's highs, followed by a near 3% decline on the Nasdaq & nearly 1% on SPX, NYA & INDU in yesterday's session, the first day after the peak.>>>> Huh? The Nasdaq is only down 1.4% lower than Monday's peak. Since you mentioned the Jan. 3rd "surprise" rate cut, I thought I'd ask a kind of market trivia question that several "market knowledgeable" people don't seem to know off hand.............. I'm sure everyone remembers the epic and frenzied broad based rally we had that day, but does anyone remember WHICH STOCK INDEX WAS DOWN 6% ON THE DAY OF THE CUT and off an additional 6% the following day? This same index also fell when the Fed cut another 50 bps on Jan. 30th. This same index is currently lower than at any time during the rate cut regimen and was IMO the most likely impetus for the Jan 3rd "surprise" rate cut. It just so happens it was the best performing index of 2000 (up 46%). Think Fast..... -bg-

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