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To: Dealer who wrote (30078)	8/22/2000 8:15:11 AM
From: Dealer	Read Replies (1) \| Respond to of 35685

Fed vigil begins Futures markets point to positive open By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:11 AM ET Aug 22, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) - The day's action is likely to be both directionless and anemic ahead of the Federal Reserve's decision on interest rates Tuesday. An announcement is widely expected to hit screens at around 2:15 p.m. Market participants appear certain in their view that the central bank will again opt to stand pat on rates. The Fed's last tightening move dates back to May 16 - when the central bank struck with a 50-basis-point hike, taking the fed funds rate target to a 9-year high. See Fed preview. In the futures markets, September S&P 500 futures added 1.70 points and were trading approximately 2.80 points above fair value. Nasdaq futures eked out a small gain of 11.50 points, or 0.3 percent. The market's debate centers on how the Fed will word the statement released at the conclusion of the gathering. At the June 27-28 FOMC meeting, the central bank said economic risks remained weighted toward inflation pressures. Over the past six weeks, however, evidence that economic growth is tapering off has mounted. Still, the consumer remains strong and growth is cooling off from very high levels. Fed funds futures -- which measure the market's rate expectations going forward - indicate a 50-50 chance of another rate hike before the current tightening cycle concludes. In the Treasury market, action was again muted with traders opting to sit on the fence until the outcome Tuesday afternoon of the Fed meeting. There is no economic news due out Tuesday. The week's reports are primarily second-tier in nature, including durable goods orders for July. View Economic Preview, economic calendar and forecasts and historical economic data The 10-year Treasury note added 2/32 to yield ($TNX: news, msgs) 5.77 percent and the 30-year bond climbed 3/32 to yield ($TYX: news, msgs) 5.705 percent. Short-dated issues - the most sensitive to changes in the fed funds rate -- also traded a sliver higher. On the supply front, Treasury will auction $10 billion in 2-year notes on Wednesday. A 2-year issue is currently yielding 6.27 percent - 23 basis points less then the current fed funds target. In the currency arena, dollar/yen (C_JPY: news, msgs) dipped 0.3 percent to 108.35 while euro/dollar (C_EUR: news, msgs) continued its descent, moving to 0.8984, off 0.4 percent. See latest currency rates. Julie Rannazzisi is markets editor for CBS.MarketWatch.com.

To: Dealer who wrote (30078)	8/22/2000 8:11:01 PM
From: Dealer	Read Replies (1) \| Respond to of 35685

<font color=Red>AFTERHOURS QUOTES and The Earnings Announcement dates WIND Earnings 8/31 5:00 Voltaire's Porch Basket of Stocks These Stock Have Not Been Picked By Any One Individual GORILLA--A company that controls it market because it has a discontinuous innovation ,one that is not compatible with existing systems. The market is in a hyper growth stage, and they control the architecture. There is a high switching cost to using some other company's product, KING--The Market leader, properly with a two-times lead or better over its closest competitor. If the lead shrinks too far, the king becomes a prince, and we have a kingless market. Because they lack architectural control, and because switching costs are low, they cannot force competitors onto the defensive the way Microsoft, Intel, or Cisco can. Compaq is a king. Seagate is a king of hard drives. A lot of study has been done on these stocks by the Gorilla and Kings thread. There are the stocks that are discussed most often on the porch........and 1 or more are in most porcher's portfolio. The following Stocks are on the Gorilla and King Index QCOM CLOSE 56 5/8 AFTERHOURS 57.125 GMST CLOSE 74 1/16 AFTERHOURS 75 JDSU CLOSE 124 1/2 AFTERHOURS 124.62 SEBL CLOSE 172 AFTERHOURS 172.8125 NTAP CLOSE 94 3/8 AFTERHOURS 94.50 The following Stocks are on the Gorilla and King Wait and Watchlist The Watch & Wait Index consists of stocks that have some desirable characteristics but are not necessarily Gorillas or Kings - at least not yet. Most of them will not be, but they bear watching for that possibility. They are as follows: BRCM CLOSE 262 3/16 AFTERHOURS 261.30 CREE CLOSE 128 1/4 AFTERHOURS 128.9375 ELON CLOSE 35 5/8 AFTERHOURS 35 PMCS CLOSE 225 5/16 AFTERHOURS 226.25 RMBS----Voltaire’s Pick at this time CLOSE 92 7/8 AFTERHOURS 93 RNWK CLOSE 47 7/8 AFTERHOURS 47.3125 WIND CLOSE 35 AFTERHOURS 35.20 "Voltaire's Cover Call Strategy 101" see Post # 9490 Post #'s of Recent Cover Call Strategy Discussions From recent discussions--August 16,17 and 18, 2000 see post #29569 Contest: “Which Stock Will Double?” link below Message 13523976 Post #'s of Recent Cover Call Strategy Discussions 27272 Original Posts "Voltaire Cover Call Strategy 101" From recent discussions--August 16,17 and 18, 2000