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To: robnhood who wrote (19719)	9/19/2000 9:00:52 PM
From: pater tenebrarum	Respond to of 436258

well, wasn't it right to jump? that surprise cut marked the nadir of the crisis after all. note, i don't think this market is efficient in the ivory tower theory sense, and i know it overshoots to the upside as well as to the downside. i also think it's inherently dysfunctional due to the massive use of leverage and derivatives...but the broad trends still show that it functions as a discounting mechanism...only it was beginning to discount fantasies earlier this year. but tell you what, it still is discounting the fact that the printing presses are just humming merrily along...otherwise we'd trade a lot lower already imo.