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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (33100)	5/15/2000 8:02:00 PM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 42523

Even if there is a miraculous, negative CPI surprise, I don't think the market would gap down. Reasons: 1) Usual BLS "core" vs "real life" CPI obfuscation/camoflage 2) "It's already priced in the market" rationalizations As a result, rain or shine we gap up tomorrow. (Why the hell didn't I buy calls on the QQQ today?) BUT...if we get .5% and wind of further Fed tightening (and we will...the Fed is running out of time both with respect to being behind the curve and with respect to the presidential elections)....the market reverses after a massive am rally into a more massive pm collapse. Thus, the ideal time to reload will be just before the FOMC announcement at 1:15 pm EST or so.