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Gold/Mining/Energy : Newmont Mining(NEM) & Newmont Gold(NGC) -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (347)	9/9/1999 11:38:00 PM
From: ahhaha	Read Replies (2) \| Respond to of 587

A news item got ignored today. It was that import prices rose 1% last month. The prejudice in the stock market is amazing. The shorts are scared of non-events and ignore big negatives. Increasing import prices raise the compensation leverage of domestic labor. One can blame it on the dollar with the cavalier attitude that the market already knows, but the players don't assume there is upward pressure on labor cost from this. The dollar translates import prices, but it isn't the retail pass through which is the negative, rather, it is the labor effect. Also today aside from the usual ambiguous disinformation efforts by various fed presidential stooges, our boys in the four columned building did a coupon pass. That in itself has become the norm. After all, we expect a lot of production from those boys. Today, though, it came at an unusual time. The DOW and other averages were setting up to make a nasty down side plunge, but just then, our boys came in with the fix and everyone was happy. They know the market wants to go down big and so they have to keep it propped because it has become the machine of prosperity. They also know they can influence that prosperity with less dough than it takes with overt rate fixing. They have to shoot through the psychological connection at the short interest, but that interest is sufficiently large so that the stock market can be manipulated. The institutions like this a lot because it is enabling them to distribute stocks into the speculating public hands without too much price concession. Thus, the FED is engineering the moral imperative. They are punishing greed and helping prudence. When this gets around the whisper circuit there will be an acceleration of activity as the less informed try to extract themselves protectively. The outcome historically has been snowballing avalanche. The FED knows it and hates it, but they got to get it down somehow, so gradually will be attempted. Of course, that will bring about the greatest grief, because if I know it, so do others. They all are watching the door more and more closely. They see the Trannies and Utes locked in major down trends wildly diverging from the industrials with the breadth worse than it has been in all history, and old reliables like AHP making a breakout down side gap. KO breaking its major uptrend and neckline. DIS double topped and headed drearily down, and F preparing for the plunge to the neckline from where it will proceed horribly down during 2000. The FED doesn't need to get it down at all. It's moving there inexorably while the patzer public toasts the roar of crowds.