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To: bill meehan who wrote (50195)	6/30/1999 10:48:00 AM
From: Lucretius	Respond to of 86076

it has to be now or it ain't gonna happen, IMO. Bond mkt must make the final plunge to 7% and washout all the leverage and then stocks must crash as the bond rallies off the bottom... and it must happen in the next couple weeks.. if not.. this mkt is probably topless for the rest of the year...... Al will do his qtr and then bonds should start to roll over the next couple days and the pundits will say that "bond traders fear future hikes" bond mkt leads the Fed around by the nose, not the other way around. too much leverage and too many yen holders in the bond mkt... Japanese are leaving in droves and the yen/carry is blowing up. The Japanese can knock the yen down all they want here in the s-t but we all know the final result.. the yen goes higher. (and so does gold at some pt) everybody is WAY too bullish on bonds for this t be a bottom and I've seen this chart pattern in the yield befroe.. it almsot always precedes a BIG move higher. decisionpoint.com

To: bill meehan who wrote (50195)	6/30/1999 4:25:00 PM
From: accountclosed	Read Replies (1) \| Respond to of 86076

ROTFLMAO..."RISK IS A MYTH" I hereby award you the Play of the Day, Bill and thanks for including us in your presentation. Excellent job!!

To: bill meehan who wrote (50195)	6/30/1999 4:42:00 PM
From: accountclosed	Read Replies (1) \| Respond to of 86076

Check out AntMan's favorite quote in his si profile <g>

To: bill meehan who wrote (50195)	7/1/1999 5:11:00 PM
From: Defrocked	Read Replies (3) \| Respond to of 86076

How does one interpret the now neutral stance with the implied positioning discussed in March??? AG's Fed is getting wishy-washy IMHO. Paragraph from the just-released Mar FOMC meeting bog.frb.fed.us "The members nonetheless agreed that their increased concerns about the outlook for inflation called for the adoption of an asymmetric directive that was tilted toward tightening and, in keeping with the Committee's recently reaffirmed policy, to announce that change after this meeting. The Committee had said that it would not necessarily publish every change in the symmetry of its directive, but this shift to asymmetry represented a significant change in the Committee's assessment of the risks of higher inflation, and its announcement would alert the financial markets and the public more generally to this development. That, in turn, should encourage stabilizing reactions in financial markets and perhaps reduce the odds of an outsized response if evolving circumstances in the near term were to require an adjustment to policy that had not previously been anticipated. It was important that the public, including those who participated in financial markets, understood the Committee's resolve to keep inflation at a low level. A number of members emphasized, however, that the adoption and announcement of an asymmetrical directive should not be viewed as necessarily implying a near-term policy change or indeed any change over time unless circumstances warranted. For now, an asymmetric directive represented the right balance in terms of positioning the Committee for possible tightening at some point."