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To: MileHigh who wrote (44815)10/14/1999 8:41:00 PM
From: Voltaire  Read Replies (3) | Respond to of 152472
 
MileHigh,

Really no problem. I have seen only one other buying opportunity better than this one is going to be tomorrow. Rarely do you get a " Non-substantial but with great impact " occurrence like this, that other opportunity was when Rubin announced his retirement. The Houses did not create this but they have no choice but to take advantage and so will I.

The other good part about this is that the Fed. is showing it's hand here. They do not want to raise rates but they want to try and hold the Markets back. They know the only way they can possibly do it is by BLATHER. Come Monday it will be old news with very little impact.

Good to have some dry powder,

Voltaire



To: MileHigh who wrote (44815)10/14/1999 9:58:00 PM
From: 16yearcycle  Read Replies (2) | Respond to of 152472
 
"AG is starting to annoy me. He is the one that is going to start a panic, not normal stimuli....Silly IMO!"

I am coming around to this view myself. His desire to deflate asset prices is a very real threat to the economy.

Lets say we had another 25% drop in a day. Would he be happy? The pe on the dow would drop to about 13 on next years earnings, a level not seen since interest rates were above 13%.


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