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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?


To: John Pitera who wrote (87169)12/18/2000 8:48:45 PM
From: Terry Maloney  Read Replies (1) | Respond to of 132070
 
John, this piece from Prudent Bear agrees on there being no cut tomorrow ... Lewis basically says that today's action indicates a cut might get sold, which could devolve into panic as people realize the emperor is not only naked, but powerless. An interesting take on the fed's tightening noose.

"Based on the last couple days, I don’t think it matters what they do tomorrow. Whatever the result, the market is going to sell stocks and the dollar I think.

216.46.231.211



To: John Pitera who wrote (87169)12/19/2000 7:18:23 AM
From: Earlie  Respond to of 132070
 
John:

Good comments.

I am in the same camp as you are and hence humping consequential positions. I am mildly ahead on most, which gives me some room to move quickly if our thinking is wrong. I think the odds favour a sell, even if the Fed does exhibit an accommodative stance, but I sure as heck could be wrong on this. It is going to be an interesting day.

Best, Earlie