Stock Attack -- A Complete Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Stock Attack -- A Complete Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: dennis michael patterson who wrote (16045)	9/29/1998 8:03:00 PM
From: dennis michael patterson	Read Replies (3) of 42787

Electric/BEEBS!! Favors posts tonight that he will be short on THURSDAY. He wants to give the M one more day to rally. Here is what he said: Jerry Favors Analysis - Tuesday, September 29, 1998 8 p.m. Last evening we discussed the fact that an easing of interest rates by the Fed was likely and that if the Fed eased it would suggast some further rally in the Dow. The Fed decided to lower rates by a 1/4 of a point. However the Fed easing did not spark a significant rally in the Dow. The Dow closed down 27.04 points for the day. However it could be a mistake to take today's action as definative as to how the market will eventually respond to the new Fed Policy. In terms of the stock market what appears to be most obviuos reponse is not necesarily the most accurate. The most important consideration on the market came from whether the Fed decided to lower rates or not. The Fed did decide to lower rates but not as much as the market had hoped. The Dow was down as much as 93 points today but closed down only 28.32. As disappointed as the market may have been that the cut in rates was not larger than it was the market did not fall apart. Some further rise in stock prices is still probable near near term because we do believe lower interest rates are still probable . However just as lower interest rates in Japan did not halt the Bear Market lower interest rates here in the US will not prevent a Bear Market. The question will be whether the lower rates here in the US can prevent a serious market downturn. We do not believe so. For now we will give the market one more day but by Thursday we will want to begin shorting this market, rally or no rally.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next