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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Jordan who wrote (34067)	10/3/2000 12:39:48 PM
From: Peace	Read Replies (1) \| Respond to of 50167

Jeff, I think the fed made a mistake with the last 50bp move which some think has not even shown up in the economy and puts the soft landing in jeopardy. I think the soft landing will happen. The fed should ideally reverse that last move but with elections round the corner, we may not see that until next year. NAPM index has been below 50 for two months now which indicates manufacturing is contracting. Peace

To: Jeff Jordan who wrote (34067)	10/4/2000 12:34:42 PM
From: James Strauss	Respond to of 50167

bias? well, they got to go neutral before now and year end...no mystery there. Maybe, cut rates 1st Q, I saw that 3mos ago...only because of global growth...not internal. Jeff: I agree that the next move by the FED will be a rate cut within the next 6 months... Most of the bad earnings expectations are already factored into the market... Companies like Lucent and Cisco are beginning to find their footing after taking a pounding... This is evidenced by the rising 2 day MA... There is support for the NDX in the 3100/3200 area... So, we are closer to a bottom than a top... The capitulation on some of the blue chip techs is evidence of the throwing in the towel environment we see at bottoms... The October mutual fund tax loss selling is the final part of this correction... We could rally at any time... Jim