Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: stockman_scott who wrote (22549)	10/25/2001 3:15:46 PM
From: Lee Lichterman III	Read Replies (1) of 52237

>>No real news catalyst for the reversal of fortune<< Sure there is news. AG is going to cut again, never mind the guy behind the curtain pushing on the string. After all the last 9 rates cuts did so much good already..... From Bond talk...... FED TALK: The Fed Fund futures market is pricing in roughly a 50% chance that the Fed cuts rates by 50 basis points on Nov. 6. The November Fed Funds contract is trading at 2.195%, about midway between the point that fully prices in a 25 basis point cut (2.30%) and the level that fully prices in a 50 basis point cut (2.10%). And the market is now fully priced for a cumulative 50 basis points between now and the Jan. 29/30 FOMC meeting, even if the Fed only cuts by 25 basis points in November. The February 2002 contract is trading at 1.975%, pricing in 100% of 50 basis points in cuts between now and the January meeting. The December contract, at 2.055%, prices in roughly a 100% chance that the Fed cuts by 25 basis points in both November and December, if not 50 basis points in November. And then there is this bullish news...... ECONOMY TALK: The Conference Board's help-wanted advertising index fell to 52 in September from 53 in August. The index hasn't risen since December and is at its lowest level since February 1983.

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