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

To: Voltaire who wrote (38474)	6/7/2000 12:54:00 PM
From: Ilaine	Read Replies (1) \| Respond to of 42523

The Federal Reserve's agenda, by law, is maintaining the stability of the U.S. currency and the U.S. financial system, as well as regulating banks and financial institutions. It is not preserving the stock market, per se, and, a fortiori, it is not preserving an inflated bubble market.

To: Voltaire who wrote (38474)	6/7/2000 2:47:00 PM
From: Earlie	Respond to of 42523

V: And your thoughts on the importance of foreign holders of U.S. assets vis-a-vis the Fed and the large houses? In the current distorted environment, I prefer to monitor their attitudes and trading behaviour, particularly given the massive (and over-priced) paper they hold. If they decide to quietly (or otherwise) exit, it won't matter what the Fed or the big houses think or do IMHO. Incidentally, I suspect that at least some of the bears found in this vicinity have actually enjoyed the markets so far this year. (g) I also prefer you to stick around and provide us with your views. While I don't agree with your market view, (especially with respect to the near term), and while I may be on the opposite side of some of your picks, we all benefit from good discussion. Incidentally, what is a clown killer? Probably discussed at an earlier point, but I'm in the dark on this one. Best, Earlie