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Technology Stocks : Cyrix 1 Where anything goes
CYRX 8.790+0.3%2:59 PM EST
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To: Creditman who wrote (266)3/1/1997 9:43:00 PM
From: allan e   of 640
 
Let's take a look at July of last year. In similar congressional testimony, Greenspan made comments that were damn near the same as his most recent statment. The initial reaction was the same. The market tanked and in essence "corrected" itself in the mind of Greenspan. A month later, when the descision was announced not to raise interest rates the market rebounded strongly.

It seems that this is the latest tool of Greenspan to put a damper on things without having to take the more drastic measure of raising interest rates. I could be wrong but I highly doubt that the rates are going to go up. On March 25, they will announce that the market has corrected itself and all is hunky-dory.
I too was only Seventeen in 1987, so I cannot make any analogies to that market correction. I just don't see how they could change the maintenance requirements. It would be about as detrimental in terms of volutility as if he suddenly announced that we were going to go back on the gold standard.

I think that the next month will present a wonderful buying opportunity to get back into the market. I never got out of Cyrix so I will just hunker down and wait. I did, though, recently buy a put on Vivus, as insurance. Just my two cents worth. All my best.

Allan E.
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