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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: pooh who wrote (44323)	6/13/1999 3:26:00 PM
From: kendall harmon	Read Replies (1) \| Respond to of 120523

Wow, I picked quite a week to leave for the BEACH. Ugh. Looks like the list survived as usual. THE question coming up this week for the MACRO trend is the FED. From a TSC piece on the upcoming week: Ever since the meeting [i.e. Greenspan's to testify this coming Thursday] was announced, investors have been looking to it for the definitive word on what the FOMC is going to do June 29 and 30. A string of strong economic reports and a parade of Fed types making hawkish comments have pretty much convinced the market that the FOMC is going to hike rates, but what everyone wants to know now is what the character of that hike will be. A quarter point and a bias to tighten? A half point? A quarter now and a quarter later? When the Fed hikes, is it fighting inflation? Or is it just taking back this fall's emergency cuts? I got a personal e-mail from James Padinha (of thestreet.com) whom I have mentioned several times to the list, and he feels three hikes by the early fall is the most likely scenario he now sees. I do not think this much tightening is in the market yet. We shall see.