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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?


To: Nick who wrote (25135)12/14/2000 6:14:29 PM
From: Jim Willie CB  Read Replies (1) | Respond to of 65232
 
Greenspan overtightened in 1994
he also overloosened in 1992

I stick with what I said
he trusted the bond market from 1995 to 1997

in 1999 he overrode the bond market
he knew better
he has been overriding the bond market all summer, all autumn this year

now, he openly admitted his errors last week
I expect him to react
but probably a little too slowly

gonna be volatile as hell, as fundamentals deteriorate all while we GUESS how responsive Greencheese policy will be

he gave us a hint last week
"nowhere near as serious as 1998
Fed will cut rates IF WE SEE the economy slowing unduly"

I cannot believe it
on Tuesday with Naz stalled at 3000,
I had Jan75 QQQ PUTS priced and ordered
didnt pull the trigger
instead, waited for SDLI to come down 15-20%, then bought

/ Jim