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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Tunica Albuginea who wrote (10692)	6/1/2000 11:13:00 AM
From: Hank Stamper	Read Replies (2) \| Respond to of 24042

Excellent point (market began up prior to the end of Fed tightening). The stock market is a leading indicator. However, we still have a lot of pent up employment cost pressure at this juncture. If I recall correctly, the opposite was true in 94. Employment cost pressure takes a lot more time for Fed tightening to release--way more than, say, auto sales. Furthermore, we were not fighting record valuations in 94. In short, the fundamental conditions between then and now are very different. I enjoy your posts. But, you really should agree with me! <g> David Todtman