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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: JLS who wrote (14979)	11/15/1999 11:30:00 AM
From: Rande Is	Read Replies (2) \| Respond to of 57584

I wish I could say that most traders are indifferent about the Fed meeting. . . but the bears see to it that articles are written saying, "all eyes are on the Fed." I had to laugh at Joe Kernan this morning, when he PROVED that "all" eyes were not on the Fed, if "any" were not. We will slide sideways until we are past the Fed meeting. I predict there will be no change in rates and no change in bias. This will come as a very slight relief, and will disappoint the bears that may decide to take positions later in the day on the Fed play toward a hike. So our speculatives will continue to percolate. . . .mostly what I am playing now. . . you all know the names. . . [though I added our big OLB with the itty bitty float. . [smaller float than SIEB, yet a larger company trading at about a fifth the price]. . . .sold SIEB this AM, when seeing short interest. . . wish I could post every move immediately. . .guess that will come soon enough.] Anyway, to better answer the question you asked. . .sideways is still the answer. . .not much market volatility going into meeting. . . To me, the real question is "what will happen AFTER the Fed meeting?" So if rates stay and bias stays. . .we will have perhaps another week or so of mania. But should bias be removed, we will rock hard. . .perhaps right through until the first week of Dec. . .doubtful that will happen. Now if we get a 1/4 point rate hike, I believe the sell-off I have been predicting will start immediately. I don't see a quarter point rate hike priced into this market. . . on the contrary, in fact. So, while I really wish that these Fed meetings did not have such effect on the markets, I fear that this one still does. Needless to say, no matter what the outcome. . . within minutes of the outcome, the bears will begin discussing the fear of the next meeting. . . [good way to determine whether your favorite journalist is a bull or bear at heart.] So I am mostly focused on our speculatives and not really playing the usual suspects here. Will be taking some profits prior to end of day when I see them. . . .and am still intending on lighten the load today, tomorrow and Wednesday. . . regardless of the Fed decision, unless they drop the tightening bias. Hope that helps, Julie. . . loads of predictions in there for you. Rande Is