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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Voltaire who wrote (46711)	4/16/2000 4:13:00 PM
From: Adam Weiner	Respond to of 99985

Here are some new comments from Greenspan to be published tomorrow in the New Yorker Magazine: Federal Reserve Chairman Alan Greenspan likens day-trading to casino gambling, the NEW YORKER is set to report, but he doesn't "anticipate disaster even if there is a crash." Greenspan recently told a fellow-economist, "There's no guarantee that even if you get a 1929, you'll end up with a 1932." NEW YORKER's John Cassidy profiles Greenspan. Cassidy's profile takes in Greenspan's childhood, in Washington Heights, his years as a saxophonist, flautist, and clarinetist in the Henry Jerome jazz band, his relationship with Ayn Rand, and his role in limiting the damage caused by the financial crises in Mexico and Asia. "In practice," Cassidy writes, "if Greenspan is determined to slow down the economy he will almost certainly have to keep raising interest rates until the stock market cracks (not merely shakes)."

To: Voltaire who wrote (46711)	4/16/2000 5:06:00 PM
From: KyrosL	Read Replies (2) \| Respond to of 99985

I am not so sure that the Fed wants the markets to stabilize. If anything, I think the Fed regrets "saving" the market in 1998 with what in retrospect seem to be hasty and probably unneeded rate cuts that were probably the main cause of the current mania. There are a number of recent comments from the Fed that indicate that it regrets the "moral hazard" its 1998 action created and it will not repeat it now. The latest is Greenspan's comment that a 1929-style crash need not be followed by 1932-style economic conditions. It is, IMO, the clearest sign that the Fed will stand aside if the stock market crashes even further. Kyros

To: Voltaire who wrote (46711)	4/16/2000 5:43:00 PM
From: pater tenebrarum	Respond to of 99985

Voltaire, you seem to forget that the market is bigger than all of them...anyway, if a 34% plunge in the Nasdaq is no reason to be concerned to you, be my guest. i'm not concerned either. see you at fair value...:) regards, hb