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

To: Wally Mastroly who wrote (10306)	12/7/1999 12:17:00 PM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 15132

Wally: Yah, the Greenman talks the talk but is not walking the walk. And the market is on to him. From Barrons this past weekend: "Federal Reserve policy- makers won't be deterred by Year 2000 computer concerns if they decide they need to raise interest rates this month, Barron's reported, citing an interview with Fed Governor Edward Kelley. ''People have said Y2K takes the Fed completely out of the picture, but that's too strong a statement,'' Kelley said, according to the paper. While there are signs some parts of the U.S. economy are slowing -- housing and auto sales, for example -- ''basically the beat goes on and things are still strong,'' Barron's quoted Kelley as saying." Was this reported on CNBC yesterday? I did not hear it. Did the NAZ rally anyway? Yep, so the market is not taking these guys seriously. We are laughing all the way to the bank. BUT finally someone besides myself is starting to talk about a Christmas present in the form of a tightening bias. Who knows at this point. Let's list the problems starting January 1 in tech. land: 1. The Greenman starts to take away his green. He will be free to do his stock market schtick. 2. Tech. holders will look to lock in some gains. 3. Earnings warning season begins. They come fast and hard after the holidays. Y2K problems? Good grief, my Dell is lost on the production line and there are parts shortages to blame! 4. Valuations at an all time high will give a pause for thought in this environment. Hmmm.... 5. Hot, hot, hot Q4 economic reports.