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To: patron_anejo_por_favor who wrote (19039)	9/18/2000 12:15:08 AM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 436258

Another FRB branch head goes flat-line on his EEG. Why are they all so vocal right now, is something about to happen that we need to know about?<ng> cbs.marketwatch.com Parry: No reason to cut growth By CBS.MarketWatch.com Last Update: 5:26 PM ET Sep 17, 2000 NewsWatch Latest headlines SAN FRANCISCO (CBS.MW) - Robert Parry, head of the Federal Reserve Bank of San Francisco, has told Barron's of his belief that the U.S. economy can continue to grow at a robust rate without setting off inflation. The newspaper reported in its September 18 edition the bank president calculates that annual growth of 5 percent over the next few years can be maintained without the economy overheating. "It's been an extraordinarily favorable period, one where the economy has performed in an outstanding way," Barron's quoted Parry as saying. While Parry said the Fed should always keep an eye on inflationary trends, he displayed no particular concern over recent harbingers, specifically sky-high oil prices. Crude oil's climb to $36 a barrel "is an event that clearly has an impact on the economy," Parry told Barron's, "but presumably, since energy prices and oil prices are volatile, there's no reason to expect that they are going to be permanently affecting the economy." He said his rosy forecast is partially based on high productivity levels although he warned it is "dangerous to assume" those will continue to accelerate indefinitely.

To: patron_anejo_por_favor who wrote (19039)	9/18/2000 12:41:07 AM
From: AllansAlias	Respond to of 436258

>>At what level would you absolutely be short the S&P cash? >>The NDX? Inquiring minds want to know!! I will give a meta-answer. The S&P cash is sitting right on a line that has defined its rise since the insane parabolic takeoff of late 1994. We have never seen anything like this sort of run as many of us know too well. The 1994 takeoff makes the already impressive ramp from 1982 look like child's play. Anyway, since 1994 there has been a line that the spoos have repudiated time and time again, and very quickly. It has dropped below this line by times, but never for long enough to create anything but shadows (i.e., lows but not closes) on the weekly chart. The bears have never been able to overcome this line of the bull. An amazing thing has happened as we have been moving sideways, we have been bumping into this line. Understand how rare this is. The line had been tested during the 1996 downdraft, ditto 1998, but it has never folded. After testing this uber line only twice, we have now touched/tested it 4 times as we've been bumping upward since the spoo lows of April. A unique thing happened in the downdraft of July. We actually closed underneath said line on the weekly chart for the first time ever. Friday we closed ~exactly on this line. The percentage play is to buy the bounce. I think the smarter thing is to stand aside and watch for a spell. I will be golfing in the morning -- unless it rains. I suspect most people will be buying in the morning -- unless it rains. -g