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Non-Tech : Bid /Ask Spreads - Market Manipulation

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To: Sidney Reilly who wrote (223)	12/8/1996 10:55:00 AM
From: Steve	of 308

Fellas, Relax a little and evaluate the situation for what it is. Rather than getting upset over what Greenspan said and how much money it cost you try to find a way to profit from the markets reaction to what he said. He never said he was going to raise rates, and he can't under the status quo, so, in essence, while he is attempting to quell an alleged speculative fire he will only add to it. How, you ask? The market climbs a wall of worry my friends, and when you have a panic like we did on Friday with the blue chips within three percent of their ALL-TIME highs look out above. What will happen now when rates are left untouched and earnings come in line? Why do you think Soros and group jumped in and bought bonds? I say get long again and stay close to the door, because when Greenspan says such things again and the market reacts like he's crying wolf this time...get out of the party. Until then, buy panics! Just a point of note. For years now I have been listening to pundits bash the cigarette industry and newscasters speak of how jury awards will break their back. Talk about a wall of worry. Look at a chart on Phillip Morris. Best regards gentlemen, Steve

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