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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: Jenne who wrote (22819)	6/17/1999 11:52:00 AM
From: Tunica Albuginea	Read Replies (2) \| Respond to of 41369

Jenne :This is what I got from Al G.'s testimony. A great performance. Have you been buying shaving blades and soap lately? TA --------------- AL Greenspan: -Inflationary pressures are essentially non-existant -pricing power is virtually nonexistent. -The Labor market is not put at risk of inflationary pressures -Small wage gains -Residual fear of job obsolescence is still holding wages down. -Difficult to assess if we have a speculative bubble. -Spot a bubble in advance -Betting against markets is precarious at best. -certain imbalances in the economy pose risks to the economy ( trade deficit; into the future perhaps a little labor wages; and finally the stock market ) -Our job at the Fed is to continue this expansion by ensuring LONG TERM PRICE STABILITY. -we may have to institute preemptive actions to achieve this. -however we have NO specific inflation targets because none of them is fool proof. -If it continues into next year, it will be the longest in history, On the Q&A session he said: --price stability is best achieved on a long term basis because it is difficult to make adjustments on observations of day to day events because these changes take too long to assess. - the Fed will focus primarily on maintaining price stability ( to me this says he doesn't target the stock market ). -we do not target any specific target index. The CPI is not a perfect index. Because it is frequently revised it is hard to know exactly what it means. -productivity acceleration is so important in producing this great economic expansion and price stability has fostered the implementation of technologies that help this. -To bleedin' heart Congress. Pete Starks," what can the Fed do to help those at the periphery ( such as teenagers )? Any type of "social engineering schemes"? Ans: "Congressman I don't agree with that action. Our job is to keep this extraordinary expansion. BECAUSE THIS EXPANSION HAS DONE MORE FOR THOSE AT THE THAN ANYTHING THAT CONGRESS COULD DESIGN!!!! Congressman I have been very controversial in the minimum wage increase because what it will actually do is LOWER THE HIRABILITY OF TEENAGERs. And Congressman in this climate today, the minimum wage has no impact on teenagers hirability. - Congresswoman: "What can we achieve with a small rate increase? Maybe we need a larger one". Al: " It is difficult to assess the long term impact of any increase. So it is best to go slowly. Remember that if we have to the Fed can raise rates literally in minutes notice". - there is no indication of inflation anywhere in the Economy. Maybe just a little bit some construction materials.The Economy is behaving in a very benign way. -Paul Ryan: (R)Wisconsin: What is your take on the correlation between oil price increases and the 30 year bond .Will that produce inflation: -Al: Oil has become of declining importance in our Economy because it is a smaller part of the Economy than it was 30 years ago. TA

To: Jenne who wrote (22819)	6/17/1999 12:01:00 PM
From: Tunica Albuginea	Read Replies (2) \| Respond to of 41369

Jenne, AOL 112.7. We are knocking steadily at 113-114 door. 18.7 mill in 2 hours. Big volume. I think 114 will fall today. Maybe close above 115 the next resistance level. That will position us nicely to attack 120. I think 120 is very important. If we break that, next is 132 and then straight to 140. The little guy is leading the way: thomsoninvest.net Institutions are too slow to respond. ( I think their Investing Commitee hasn't met yet, <g>. I think meeting is scheduled for next Wed, gg . Buy AO at 135. That's OK, a few mill dollars here or there no problem in our 50 bill fund) TA