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To: craig crawford who wrote (114750)	1/8/2001 3:27:49 PM
From: Kevin Podsiadlik	Read Replies (1) \| Respond to of 164684

If you bought stocks earlier at better prices you would be better off. Yeah, if I'd been psychic enough to buy just before the rate cut I'd be down only two points instead of four. Big help that cut. Actually the market rallied in '98 ahead of the first cut, then sold off to new lows until Greenspan cut a second time. But in '98 the second fed ease was the "surprise" cut. As Meisler herself put it, the market had already "priced in" the first cut. This time, the "surprise" came first, and everyone "knows" another cut is coming, sooner or later. Yet the market shrugs it off. Well we closed at 2291.86 January second and we are higher now so is that not an uptrend since Jan 2nd? I'll take that as a "you're exactly right, 'uptrend' means 'anything not making new lows' to me" answer to my question.