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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ditchdigger who wrote (17894)	12/14/1999 10:05:00 PM
From: Ken W	Read Replies (2) \| Respond to of 29382

Kenny: Well looks like Greenie the meanie is going to come into the limelight again: The broader market sell-off got under way after a report that November retail sales surged 0.9 percent, which was much higher than the rise of 0.5 percent forecast by analysts. The retail sales report heightened concerns that the Federal Reserve might raise interest rates again. Excluding autos, November retail sales rose 0.4 percent. The retail sales news sent the 30-year U.S. Treasury bond plunging 1-11/32, or $13.4375 on each $1,000 of face value, driving the yield up to 6.30 percent -- its highest level since Dec. 2 -- from 6.20 percent on Monday. ``The Nasdaq is at long last starting to go down,' said Hugh Johnson, chief investment officer at First Albany Corp. 'You could attribute it to profit-taking ... set in motion by very sharp declines in the bond market, as there is a growing concern that the economy remains too strong.' While the central bank's policy-setting panel meets next Tuesday, Wall Street generally doubts the Fed would hike interest rates until early next year, starting in February. Investors shrugged off the Labor Department's November Consumer Price Index, which rose 0.1 percent, below forecasts. Excluding food and energy, the index rose 0.2 percent, which was in line with expectations, according to a Reuters survey of economists. ``Together, these reports make another Fed tightening all the more likely,' said Gerald Cohen, senior economist at Merrill Lynch, in a research note. ``Despite low inflation, growth is strong.' So, now is the time to break out and dust off the short account to ride some of these crazy Linuex stocks back to from where they came!! Ken