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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (53767)	1/3/2001 10:09:01 PM
From: Lucretius	Read Replies (2) \| Respond to of 436258

VERY panicky.. i think we may be crashing by tomorrow.... japan and spoos and dung not acting well tonight. currency is trying to reverse too...

To: AllansAlias who wrote (53767)	1/4/2001 12:16:11 AM
From: chic_hearne	Read Replies (1) \| Respond to of 436258

It just struck me how panicky this move was. Not only was it a surprise cut and 50bp to boot, but they stated that they will step up with more if they have to. I just got off the phone with my uncle, he's a playa. He dumped a Truckload of INTC and CSCO over the last two days. Delayed tax gain selling. His theory on today's action, same as last year. The shorts piled into what they believed would be sold the first of the year. Last year QCOM, this year anything where people are sitting with less than a $5 cost basis and want out (like him). According to him (I also agree 100%), this rate cut was such a surprise many of these shorts were caught with their pants down and needed out. Momo players got f*cked today if they were playing this game. Too bad we can't get daily short interest, or this may be more clear.

To: AllansAlias who wrote (53767)	1/4/2001 1:33:45 AM
From: Ken98	Read Replies (1) \| Respond to of 436258

AA, I too was struck by the panicky nature of the move. Why now? Why so much ease following $38B+ in ClownBucks last week? Why an easing bias on top of that? What changed in the few weeks since the last Fed meeting where a neutral bias was declared? My initial answer is to rejuvenate calling Bubble Boy "Asymmetric Al". To listen to that doddering fool blabber for months about "incrementalism" and "not wanting to surprise the markets" and "certainty as to Fed action" only to jam the equity markets with maximum force. This was either the supreme act of arrogance or fear - I still haven't decided which. The similarities to the '98 jam job are stunning. Will the "successful" results be the same? Why now? Clearly they were waiting until after the first of the year to do it. But why? Keep the January mufu flows coming? Does someone need the bailout to affect Q1 results rather than Q4? Or is something GOING to happen? Or is he simply trying to curry favor with the Bush boys coming into town on the day of their economic confab? Why so large? Clearly to have the max psychological effect on the equity markets. But as someone else said earlier, he has shot his wad. If he gets in trouble again later what will he do, cut by a full point? BTW, no open market activity today - I guess they were too busy elsewhere. They'll pick it back up tomorrow. <g>