C-Cube Message Board - Msg: 5688316

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Technology Stocks : C-Cube

CUBE 37.23

-0.3%

Nov 28 9:30 AM EST

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To: John Rieman who wrote (35744)	9/7/1998 6:16:00 PM
From: Rarebird	Read Replies (1) of 50808

Greenspan admitted in that speech Friday Night that there is more downside risk in the U.S. ( as well as Global ) Market(s) going forward. He didn't want to spook the Markets so he didn't use the D word; but that was certainly implied. The financial markets overseas clearly see a Fed Funds and Discount Rate Cut Coming. Greenspan has no choice but to ease at this point: the Bond Market has already priced in a 50 point easing. Greenspan's monetary policy has been highly restrictive because of the Stock Market's exuberance. He has room to ease without worrying about the Market hitting new highs here. We can have a very nice Bear Market Rally here to the 200 day moving average at around Dow 8450 in anticipation of the rate cut. But then I look for a major sell off to new lows once the rate cut is announced. We need the discount rate dropped 100 basis points and massive tax cuts in Japan to kill the Bear.

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