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Pastimes : Alan Greenspan MUST GO: -- Ignore unavailable to you. Want to Upgrade?

To: Alexandermf who wrote (119)	5/28/2000 12:55:00 PM
From: Master (Hijacked)	Read Replies (1) \| Respond to of 494

Some here argue that investments should be based on fundamentals. I agree that that is the way it should be. But these days fundamentals have become irrelevant. Stocks with great fundamentals drop as much and as fast as the dot.coms . Investment decisions are now being based on what you think Greenspan's mood is. If ever he gets a stomach ache....watch out!!! That to me is wrong...the man has too much power and it can become dangerous. Vince ================== quicken.com Market Snapshot: Economic numbers in the limelight By Julie Rannazzisi, CBS MarketWatch Last Update: 6:18 PM ET May 26, 2000 NEW YORK (CBS.MW) -- Economic data will again be in focus next week, with each piece of news set to provide clues on what the Fed's next move will be. The May employment report, due out next Friday, will be the first piece of the puzzle to decipher what the central bank may or may not do at the June 27-28 Federal Open Market Committee meeting. "Next week's economic reports will either assure the markets that the economy can transition to more moderate growth with subdued inflation or serve to aggravate recent fears," said Lynn Reaser, chief economist of Bank of America Capital Management. "We expect numbers to indicate somewhat more balanced performance, which should help most industry groups, including technology, financial services and the more cyclical areas," Reaser said. "For the first time in a couple of weeks we'll have significant news on U.S. economic performance," remarked Clark Yingst, market analyst at Prudential Securities. "We know the Fed is concerned about pressures on the cost of labor. Unfortunately, we're likely to see more tightness in the labor markets. The situation won't change overnight," Yingst added. Every piece of data has the potential to take the market down, according to Mike Holland, president of Holland & Co. "There are a lot of frayed nerves out there." People are worried that the Fed will overdo it on the tightening front, Holland said, and until that sentiment prevails, market volatility will remain the name of the game. On the week, the Dow Industrials fell 3.0 percent and is down 10.4 percent for the year. The Nasdaq, meanwhile, fell 5.4 percent this week and is down 21 percent for the year.