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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (30041)	10/15/1999 7:19:00 PM
From: dclapp	Respond to of 99985

max, hear, hear. well said. regards, doug

To: LTK007 who wrote (30041)	10/15/1999 7:31:00 PM
From: Terry Whitman	Read Replies (2) \| Respond to of 99985

It really is the Fed's fault, you know. Not for raising interest rates this year- but for lowering them last year and for his rescue of drunken derivative traders. He facilitated the blow off top. Now he has no choice. Inflation will eat us alive if he doesn't raise rates. Just MHO, TW

To: LTK007 who wrote (30041)	10/15/1999 8:38:00 PM
From: Matthew L. Jones	Read Replies (3) \| Respond to of 99985

Hey, hey you guys (or gals). Before you lynch me for being a Milton Friedman free market capitalist, PLEASE understand... Greenspan (IMO) has gotten his tit in a wringer here. If I was in his place I would probably do the same thing. My point is that if they (fed and government) would leave the market alone (regulation, subsidies, interest rates and money supply) the market will do a fine job of correcting itself. The fed didn't have to go on a crusade against Boston Chicken or Planet Hollywood... the buying public voted. The same is true for Microsoft. When it's price is too high, people will quit buying it. Until they do quit buying it, it's price is not too high. The market (left to itself) is the ultimate pricing mechanism. When outside intervention scares everyone out of the other alternatives, by default they have forced people to pay up for stocks that are not really worth the money. This is why we will repeatedly go through the boom and bust cycle as long as we have a fed and a government that insist on playing with the market. I REPEAT, I AM NOT AN ALLAN GREENSPAN BASHER. I do, however, think that the current Fed policy is wrong and will ultimately cause the very crash it is trying so hard to avoid. Matt