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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: MrGreenJeans who wrote (10093)	11/26/1999 5:55:00 PM
From: Wally Mastroly	Respond to of 15132

As shopping soars, Job growth still too strong for Fed: cbs.marketwatch.com

To: MrGreenJeans who wrote (10093)	11/26/1999 7:22:00 PM
From: Justa Werkenstiff	Read Replies (3) \| Respond to of 15132

MGJ: Re: "Gene Epstein in Barron's makes the same argument for Alan Greenspan most probably raising rates in the year 2000. I am hoping the economy slows but it will probably grow at a torrid pace in the fourth quarter not helped by all the consumer spending that will be going on during the holiday season." I have been making this argument for over a month now. I don't see a sufficient slowing of the economy here. Maybe there will be some isolated Y2k slowdowns but overall we are cookin' for a gangbusters Q4. Whether the Green Man tightens or not come February (I think he will at this point), the market should begin to discount a rate hike soon enough. Next week unemployment rate could go lower. CIBCR could be out Friday as well. Non farm payrolls are less relevant because we can't create the jobs without the warm bodies. Naz market and the economy have huge momentum here. Naz market is laughing in the face of the Green Man. I would also speculate that the increased liquidity as fueled by the Fed. in the face of Y2k has helped to cause this incredible NAZ rally. As has been pointed out on this thread, the NAZ is overbought by most any technical measure. And it has been the tech. stocks that have pushed us to new highs in the SPY. But one would think with that extra push the past week by the Naz, the SPY would have gained some steam to push higher. The fact that it did not is very interesting to me. The SPY has bounced off the 143 level for the eighth day running as of the close. Even with MSFT and INTC in the Dow now, she can't get enough steam to make a closing high. Put/call at .42 today which will put the 10 day put/call at or near record highs. Wish we had Bob this weekend but it looks like he needs Junior to put him in his place once again <g>.