To: Lee who wrote (29099 ) 10/1/1999 4:29:00 PM From: IQBAL LATIF Read Replies (1) | Respond to
They were runing some stops below 1280 and they turned around exactly at my 2360 NDX point, so actually we have seen three tests of 2355 2360 and 2360 again today, thye have tired to punch the hole through 2360 but were unable same with 1280, so now if AG is smart I doubt he would raise the rates for simple reason asset inflation is out of the door, we are only 3% up on SPZ from the beginning of the year and index funds have really lost a lot, if the purpose of this rate hikes is to have some kind contained 'asset pricing' the policy that Bank of England is also following to tame the prices of the housing sector, AG has succeeded to tame the markets, we have 'three quarters of good earnings' behind us since we last broke 10000 on DOW, this is the pourpose of AG to tame asset inflation he needs to get earnings behind the valuation nad if you look at it for last nine months that exactly he has been doing bringing down the 'expectations' so now that we have got DOW under control and BRK.A down 23%, I would assume that based on manufacturing alone the rate hike will not materialise if it does the market may break 1267 and test 1250 but will rebound as uncertainity is out and cororate earning seasons descends on the market.
