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Strategies & Market Trends : Moufassa's Lair

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To: Joe Smith who wrote (13277)	6/7/2003 10:16:24 PM
From: KevinThompson	Read Replies (1) of 13660

"There is a huge difference between now and 1999. In 1999, the market built on 40% earnings growth that seemed sustainable. Now it is just fueled by a bargain basement mentality." I would add that another difference, (and I keep harping on this), is that the FED is now much more bold in their attempts to intervene not only by fiscal and monetary policy, but also at this time in the equities markets. When there is such an imbalance between real economic growth versus an over-stimulated, over-liquidified stock market, the chances for disastrous outcome are staggering. Can the FED keep control? How long can they continue down (or rather, UP) this path? The evidence is mounting that they are near trouble already. The best course would be to allow the free market to operate normally. But I'm certain that is not going to happen. They've already gone past the point of no turning back. I just pray it doesn't get as ugly as I think it might. All IMO, of course.

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