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To: Square_Dealings who wrote (38102)	12/15/2000 12:02:35 AM
From: dennis michael patterson	Respond to of 42787

>>If we could only get a nice spike on the VIX to 50 or 60 I would be ready to jump in for longer term<< What would you buy? Tech? What in Tech? Drugs? Basic materials? Thanks Michael

To: Square_Dealings who wrote (38102)	12/15/2000 1:01:20 AM
From: Jack T. Pearson	Read Replies (2) \| Respond to of 42787

I believe Greenspan thinks the market is only a minor factor in his calculation of where interest rates should go. But the indicators he does watch are going down rapidly. The only indicator that hasn't budged much is unemployment. If the CPI is low again, I assume the Fed will have the headroom it needs for a qtr pt reduction. But I believe there will be a lot more earnings warnings before any rate reductions will have an effect. The slowdown in retail sales will snowball as suppliers reduce capital expenditure budgets and reduce staff to protect themselves against drops in sales and margins. I also expect some great sales as companies try to reduce inventory. I wonder if Bush has invited Greenspan for a talk yet. Clinton did that before his inauguration and he and Greenspan got along pretty well after that.