The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Zeev Hed who wrote (6822)	10/31/1997 12:50:00 PM
From: Doug R	Read Replies (1) of 79449

Zeev, The gap between interest rates and the rate of inflation is pretty wide on an historical basis. I think rates are already quite restrictive in that sense and have been for a long time. 8+% may not be what it takes to choke the economy. Greenspans been choking it hard to keep it from taking off when there was plenty of room to let it go. There's alot of negative momentum built in now. Rapidly lowering rates from here may not stop that momentum. 6350 is the next support down from 6850 so that may be the worst it gets. Hell, that's just a one day move from the recent low. The big money in the market isn't controlled by sharks, even worse it's controlled by chickensh!ts. Doug R

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