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To: Lizzie Tudor who wrote (64967)6/28/1999 2:15:00 AM
From: GST  Respond to of 164684
 
Michelle -- the consensus is that bond yields are at or near their peak because everybody knows what the Fed is going to do this week. This is all well and good if the reason bonds are being sold is because of the Fed. If bonds are being sold for some other reason -- and there are other scenarios -- then the selling could continue and it is good bye net stocks. That is the risk this week -- miscalculating on the potential for continued selling of bonds and higher long rates sucking money from stocks -- with the nets taking it hardest.



To: Lizzie Tudor who wrote (64967)6/28/1999 7:57:00 AM
From: Robert Rose  Respond to of 164684
 
<in fact there is such a lack of direction in the net stocks I'm not sure how to
proceed. If we had had a deep decline in the last 2 weeks or so then I would expect a
rally in July... but no decline really means.....? >

We're treading water till the FOMC meeting Wednesday, then a relief rally lasting until Yahoo reports, at least.