Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: NanoTechMan who wrote (10219)	7/23/1999 12:50:00 AM
From: Susan G	Read Replies (1) \| Respond to of 28311

Al Greenspan? time to take a walk? July 22, 1999 Maybe it?s Time for Al to Spend More Time Soaking in the Tub Stocks and bonds were squished reeeeeeeeeeeeeeeeeeal good Thursday after Federal Reserve Chairman Alan Greenspan, who apparently spends his mornings pouring over papers in the tub before going to work, suggested a further tightening of interest rates may be necessary and hinted that stock prices are overvalued. The Dow Jones Industrial Average closed down 33.56 at 10969.22; it had been down 122 points! 5:3 on the downside-772 mil shares- NASDAQ 77.33, or -2.8%, the S&P 500 dropped 18.32 and the Russell 2000 down 3.14. Farm equipment strong like DE [our favorite and] and Case]. Greenspan suggested that the economic outlook for the U.S. is "too murky" for the Fed to be clear on how it will act in coming months, particularly if the country's unemployment rate continues to fall. Al said that the central bank would act "promptly and forcefully" at any hint of inflationary pressures. We are beginning to think that Greenspan is losing it. Our first hint of this was the very weak response in the Fall of last year when the Fed acted late, acted meekly, and acted in three steps when one strong step could have done the trick and created less havoc. Here we have the same thing?except in reverse?mixed signals?bias, rate increase, no bias and now an indication of bias back to the rate increase side. What is this guy smoking? I think it is time for Al to go and to spend more time soaking in the tub? what we need in the Fed is leadership, not constant mixed signals. Maybe his brain is getting wrinkled from the water. If there is one thing that markets cannot stand it is uncertainty. And Big Al?s comment about the market "over-valuation" needn?t be repeated time after time?want to reduce speculation? Increase margin to 65 or 75% and shutup for god?s sake! Al?. Scram. You?ve been great?let?s leave it like that From AXXel Knutson, EVP & Director, Institutional Equity Research Platinum Equities, Inc. Member NASD & SIPC Email: vtarmail@aol.com