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Politics : Idea Of The Day
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To: IQBAL LATIF who started this subject9/20/2001 10:34:24 AM
From: j g cordes  Read Replies (3) of 50167
 
Triple witching will sustain volatility through close on Friday. The markets steady decline has made position trading very risky, so normal hedging is giving way to getting out of the way.. traders know well the two sayings "don't catch a falling knife," and "don't stand in front of a train."

News on the political front is more influential than economics. Everyone knows money supply and liquidity are supportive, and that technicals are severly oversold. But there's a pall over everything in the market and its coming from the real world. Airline traffic is at 50%, business is cautious on commiting resources. People are downsizing their expectations and not extending themselves. My clients are reporting canceled projects, everyone wants to wait wihout committing to new ideas. This will impact retail sales, heavy industry, and by extension world markets.

However, such pessimism is never permanent. I thinks once things get back to normal politically (hopefully without an extended period of terrorist backlash attempts or grievous errors made on the new battle field).. economic activity will tend to be more practical. What this means is money will be spent less on ambitious projects and more on beefing up existing systems. This kind of thinking will be top to bottom through society.. from style to structural design. Insecurities from these events will command the spending and thinking process for the next three months.

Just some thoughts on the general state of affairs...

Jim
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