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.

Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (66522)	10/5/1999 2:58:00 PM
From: TRINDY	Read Replies (1) \| Respond to of 86076

Mohan, I have to say that I am at long last somewhat proud of the Fed. They are in a predicament given how long they have let this bubble go on. Life is not easy on them because they cannot let the air out too fast for fear of what a crash would do to the real economy. (No, the stock market is not the real economy. It is a national casino.) They did just the right thing today to keep the market guessing and off-balance. This should be seen as a turning point wherein the Fed didn't simply validate the market's direction. They did the right thing to cool ardors without instigating a crash. Despite my indicators turning positive with yesterday's action, I think that that runup can be discounted because of anticipation of the Fed's inaction. No one knows how to calibrate a "tightening bias," so that will keep the market guessing. If the market can sustain a rally with this degree of uncertainty, then more power to it. It will have to do it without my two cents. Nor do I see much potential from shorting. Cash is king, for now in my view.