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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Cactus Jack who wrote (28355)	1/5/2001 1:54:52 PM
From: limtex	Read Replies (2) \| Respond to of 65232

jpgill - We are just now beginning to see the evidence of the massive damage done to the economy by interest rate led attack on the Naz. As one of the commentators said this morning the damage is so great that 1% doesn't get anything other than a few hours relief. The damage he has done will need +2% rate reductions plus tax cuts plus a lot of very supportive talk. Till then seems to me the market will continus to collapse. We all got enthusiastic on Wednesday afternoon and the shorts got badly scared but they soon recovered and are now back stronger than ever. Today is building up to a +200 point drop and then we get a sheeer wall of downgrades and earnings shortfalls from next week onwards. Not a buyer in sight all too scared and people still tlaking about capitulations. Mr G really ought to be quite worried about that since it will hurt a major financial insititution and or bank. That'll make him sit up. And just to think everyone was thanking him yesterday for what he did. Repairing the damage caused by this mans obsession with the Naz is going to be a huge effort and in reality he clearly hasn't even stabilized the position never mind caused a rally. Best regards L