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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 (11418)	1/24/2000 8:20:00 PM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 15132

Wally: I don't think stocks feel because of interest rate fears or from jawboning from the Fed. Stocks fell because it was a Monday or Tuesday after expirations and they have a tendency to do this after a huge bull run going into expirations during the month of earnings. See April and July of 1999. Now the real question IMO is whether the market stabilizes by end of market on Wednesday. In other words, is there enough money flow to keep the equity level reasonably well intact. DOW chart looks very weak. I don't expect any kind of lower high run here until after the Fed. meeting as players are dealing with the possibility of a "Wally Whopper" (C) <g> 50 basis point move. I don't think it will happen. Brinker sees odds at 25% for 50 basis point move. I don't see it based on Greenspan's rhetoric of late. He is jawboning for a 25 basis point move and is playing the patient man role here and he will be in the limelight here the next few days and will ahev to show his hand to a large extent. I also see a 25 basis point move in the discount and a rhetorical "bias" (LOL) toward tightening.