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Technology Stocks : Cymer (CYMI)
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To: BillyG who wrote (17185)4/27/1998 8:14:00 PM
From: Curlton Latts  Read Replies (5) of 25960
 
Today's Wall Street Journal article on interest rates seemed to be filled with the typical joke jargon that exemplifies manipulative financial journalism without substance. The crux of the article is that "unnamed officials said" and "according to sources" and "taken out of context this statement can be interpreted to mean". The laugher was with respect to the sole quotation by Greenspan they used a December 1996 quote; that's right, it's not a typo; 1996. You talk about a stretch.

Despite where the FED may or may not take rates, that article was pure BS fluff. When the market wakes up to the lack of substance behind its purported rationale for bargain offering I wouldn't be surprised to see a fast sharp snap back.

Never in history has any significant market correction been caused by a newspaper article, only cash buying and selling can do that. I suspect that there is some big institutional and retail mutual fund money that is just salivating about how to bring a tidlewave of cash into equities. When that happens another newspaper article induced stock fluctuation will become just another anecdote in history.

Interest rates are so far removed from a "three steps and then a fall" as to be as likely as Bill Clinton is a virgin. And let's not forget slick Willies poll ratings and is extremist desire to prevent any administrative tampering, with interest rates for example, at this critical time in his fight for vindication. Not gonna happen.

Good Luck To Each And All

Curly

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