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To: Jim McMannis who wrote (123499)	12/20/2000 4:21:10 PM
From: Road Walker	Read Replies (2) \| Respond to of 186894

Jim, re: "Based on past history the change in bias should have supported the markets. Fear and uncertainty of what's really going on with the economy and fear of a hard landing seem to have taken the last two days. Might as well mix in more tax loss selling for an excuse." Oh. I thought this was the Bush election rally you were projecting. Sorry, mean spirited humor seems appropriate today. John

To: Jim McMannis who wrote (123499)	12/20/2000 4:23:23 PM
From: GVTucker	Read Replies (2) \| Respond to of 186894

Given the reaction of the price of gold today, if Greenspan had cut interest rates yesterday, things could have even been worse.

To: Jim McMannis who wrote (123499)	12/20/2000 4:24:29 PM
From: Gary Ng	Respond to of 186894

Jim, Re: Based on past history the change in bias should have supported the markets Past history also indicate bull in election year :-)

To: Jim McMannis who wrote (123499)	12/20/2000 4:36:19 PM
From: f.simons	Read Replies (1) \| Respond to of 186894

Based on past history the change in bias should have supported the markets. Jim, It would have been better if they had just gone to neutral rather than as far as they did. The market took what the Fed did as saying: "The economy is so deteriorated that we are going to recessionary bias but we see no need for an immediate rate cut." Bad message. Of course, the market set itself up for a fall by actually expecting the Fed to go all the way past biases and cut rates this month. Frank

To: Jim McMannis who wrote (123499)	12/20/2000 4:41:46 PM
From: Scumbria	Read Replies (1) \| Respond to of 186894

Jim, Gore is the reason that MHz no longer sells, particularly when it comes to P4. Scumbria

To: Jim McMannis who wrote (123499)	12/20/2000 5:33:15 PM
From: William Hunt	Read Replies (3) \| Respond to of 186894

Jim ---Would not want to be at the brokers desk when the statement for the fourth qtr arrived and the mutual funds manager have to defend how they handle their customers money this year . I heard Maria say the other day on CNBC their will be at least a 1,000 people on Wall Street received a million dollar bonus this year . What a system ! Margin calling , Tax loss selling , slowing economy ---what ever the reason the houses will use the next six days to drive the market as far south as they can . The problem in the economy and the market has gone past reality and now is strictly based on emotions . The more earnings warnings that we have over the next three weeks will be use to drive the market as low as the houses can get it . Will make a twenty per cent gain look good next year to their customers . The only person that can change this emotion is Greenspan whether it is an interest rate cut or just jawboning that he does not see a recession in the near future ( which I am not so sure he can say that anymore ) . I really do not want Bush to get a tax cut next year ---would rather have them pay down the national debt ---it helps everyone by doing this . BEST WISHES BILL