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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Hank Stamper who wrote (4488)	1/16/2000 9:15:00 AM
From: Lee	Read Replies (1) \| Respond to of 24042

David,..Re:.He has been putting the brakes on money supply too. And that does not get reported by the press so that brake occurs by 'stealth.' Most Fed operations are reported as far as I know. We see daily reports of them adding or draining liquidity. Draining now though.<g> Partly to mop up what was put into the system for Y2K concerns and partly to tighten money supply. Bond market generally watches these moves. Fed says matched sale-purchases drain $1.750 bln biz.yahoo.com NEW YORK, Jan 14 (Reuters) - The Federal Reserve confirmed Friday's four-day matched sale-purchase agreements drained $1.750 billion in reserves from the banking system. Federal funds were trading at 5-7/16 percent, according to Garban-Intercapital, slightly below the Fed's 5-1/2 percent target for the rate. Fed says matched sale-purchases drain $3.00 billion biz.yahoo.com I understand Mr. Greenspan is particularly fond of the CICBR report, possibly because it is generated by his Alma Mater and possibly because it has a good record of accuracy. Re:.Everest-like p/e stocks such as JDSU? It's really very difficult to worry about that since as long as I've been investing/trading, CSCO, MSFT and many if not all high growth stocks have always been expensive. Yet they all have managed to deliver earnings and growth.<g> The Fed may tighten at the rate and intensity as in '94 but it seems unlikely as AG has pointed out in many speeches over the past 6 months that other forces are at work here as dictated by the information age and global economy. Even the hawkish Mr. Meyer in an Oct. 12th speech recognized new forces are altering long held economic theses.<g> Cheers, Lee