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

To: t2 who wrote (10705)	6/1/2000 7:11:00 PM
From: Raymond Duray	Respond to of 24042

OT: More dismal science stuff: I think the FED's biggest worry was the stock market. Now that bubble has burst and they won't be as aggressive. Hi t2, To paraphrase, I think the FRB's biggest concern is still the stock market bubble. Now that the typical P/E of a high tech momentum stock is down, but still in the triple digits, (if in fact there are any earnings), the central bankers have accomplished about a third of the work they would really like to do.... I don't have the feeling that we are done with the rate hikes. The window of opportunity closes for the FOMC after the 6/28 meeting due to the election cycle. Not raising rates then creates the risk of a 1,000 point rise in the NAZ during the next 3 months. Something that is anathema to the hawks among the central bankers. Ciao, Ray