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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: GST who wrote (113992)	1/2/2001 9:23:51 PM
From: craig crawford	Read Replies (1) \| Respond to of 164684

If the Nasdaq were to fall 1000 points in 1 day there is nothing Greenspan could do anyway. There would be riots in the streets and someone would probably put a price on Greenspan's head. Short of using government money to prop up stocks like Hong Kong did, what could he do to stop the panic? Cut rates? Do you think cutting rates would make a difference if the Nasdaq went from 2200 to 1200 in one day? This is the point I'm trying to make. Greenspan needs to cut rates and do it fast before this fragile market does escalate to something that we can't come back from. I fall on the side that believes he should cut rates immediately by 25 basis points and then he can always move slower down the road. Some other people fall on the side of waiting longer but then possibly having to cut rates more aggressively. I think that is too risky. Cut 25 now to calm the markets and then let the numbers roll in and decide how aggressive you need to be down the road. I would like to see the market stabilize and rally over the next few weeks even without a surprise rate cut. That would be most bullish of all. That would mean people have felt that prices have come down enough and the worst scenario going forward is priced in. I think we are close to that now, where the market won't go down on any more bad news. I would point to INTC and AMAT as an example, but I thought the same thing a week or so ago when INTC was fiercely holding on to 32-33. Now it's still making a stand but at 30. Maybe the next stand is in the high 20's. Either way I am going to take the other side of the trade off all this negativity. There have to be some buyers like me out there or we wouldn't have a market, right?