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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Tom Trader who wrote (40284)	1/30/2000 5:56:00 PM
From: Temple Williams	Read Replies (1) \| Respond to of 44573

Hi Tom: I guess my "friendly fed" comment does not refer to their willingness to raise rates, but rather to the fact that (despite their "independence") the Fed will not damage the current power structure during an election year by tightening aggressively. Alan Greenspan likes his job, and he will not, imo, bite the hand that nominates him. This is not a "political" statement ... it is a reality check of the likelihood of anyone turning off the money pump during an election year. That would be a very rare event. If we do sell off as you suggest after a relief rally, then "the money" will probably have lost control of the market, and they have not done that since October '98 imo. Could happen. I just don't see it happening now. But ... the possibility is certainly there. It will be interesting to see what the margin calls you wrote about will do to the market Monday morning. I was at a small dinner party on Saturday night with some of "the money" ... I was surprised to hear many of them say they were buying on Monday and Tuesday, that this was an "opportunity". I really thought they would be more cautious. They have been wrong in the past ... but not often. Gonna be an interesting week. Europe's reaction on Globex around 4:00 a.m. should be interesting, too :o)