Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 694.04

+0.7%

Jan 9 4:00 PM EST

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To: Caroline who wrote (1907)	10/15/1998 6:26:00 PM
From: Mike Learner	Read Replies (1) of 39683

After the first rate cut, I remember the stock market went up 350 points and next day went down 500 point. I am not saying that this may happen again. But, companies are saying business is not good. Rate cut means we are globally deep in trouble! Japan's interest rate is very low too, however, their banking system is in bad situation. QUESTIONS: 1) why could not Greenspan wait till Monday to announce this news? 2) Didn't he know that this week was expiration week and his action could be in favor of those being Long S&P futures? And against those who short S&P futures? 3) was this news orchestrated to be announced on the last day of the expiration week? 4) Could it be that market permitted to fall prematurely to 7500 and then be controlled at support and then pushed to the upside? 5) Who gave signal to buy "Financial" stocks on that afternoon which reversed the course to the upside? My take: To avoid crash in the stock market, last week action was well planned and executed to this point. However, jury is still out there! Regards, Mike Learner

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