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Strategies & Market Trends : Tech Stock Options
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To: donald sew who wrote (53666)9/23/1998 5:45:00 PM
From: Andeveron  Read Replies (2) of 58727
 
>> What happens if he does not raise rates specificly on TUE. I strongly believe that a rate decrease on TUE, not later, is now being priced into the market. <<

Yes, the bulls are eagerly interpreting today's Greenspan talk as a guaranteed rate cut for next week. I don't see it happening since everyone is ignoring Greenspan's wag that the overseas contagion has only touched the fringes of the U.S. economy and not the core. He also spoke of reacting sooner to problems in the global theatre, but to the FOMC, sooner may be another 2 months and not necessarily next week. I applaud the powerful rally however, it makes a strong showing that speculative froth (from longs and shorts) is still rampant as evidenced by the huge run-ups in YHOO and AMZN. This bull market will continue to buy dips.
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