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Politics : Idea Of The Day

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To: Sergio H who wrote (20693)	9/27/1998 2:32:00 PM
From: James Strauss	Read Replies (1) of 50167

Sergio: I don't think a possible rate cut has anything to do with saving Clinton... It has more to do with propping up deteriorating world markets... If we do it first, other countries will follow... This should help stimulate economies around the world... As the earnings start rolling in for the 3rd and 4th Qtrs it will become evident that earnings growth has slowed... After some initial rate cut euphoria the market will realize that stock prices are too high for the falling earnings growth base... Many of the Internet high fliers (AMZN etc.), will begin to tumble after failing to get back to their old highs... The 7400 Dow plateau will probably be broken to the downside... This time, investors will be quicker on the "Sell" trigger... We might see the Dow plunge right through the 7400 area very quickly... If this happens, 7100 and the 6000's could come fast... But, for the short term, we should get our BEAR rally... And, I think we'll see 1/2 point, not 1/4 point... The world needs it so the high rollers around the world can get into cash on this rally... Jim

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