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

To: lindelgs who wrote (29826)	1/24/2001 5:01:45 PM
From: lurqer	Read Replies (2) \| Respond to of 65232

Greenies next move? Is that tomorrow? Greenie gives a speech (to congress) tomorrow from which people will try to divine any move at the Fed meeting next week. lurqer

To: lindelgs who wrote (29826)	1/24/2001 5:31:50 PM
From: Clappy	Respond to of 65232

Your friend of a friend has a nice sound. I downloaded part of the "Go There" MP3 and played it. Might check out some of her other stuff. Do you have a feel on Greenies next move? I never know what Mr. Greenspan is going to do. Tomorrow may provide a hint for what they will do next week (Tues. I think?). One thing I have read is that the Fed has been pouring lots of money into the system. M1 has been increased to levels higher than before the Y2K fears. I can't find the link where I found this... Anyhow, the bulls read it one way and the bears read it another. I get the feeling that the market will treat Mr. G's words with a sell off. Not because of anything bad. Just because the Naz has figured in a lot of good news already. Today was the first day in about a week that we saw selling on phenomenal earnings in techs. In addition GS & Merrill Lynch practically told us that they were not done getting all their money into this market as of yet with their downgrades of NTAP and a few others... I also get the feeling that the tech mutual funds haven't been able to finish all the buying they want to do. It makes sense to bring the market back a little. I bought a few puts in FCEL today. (Very short term trade intended.) Still waiting for ARBA to get it's turn in the sun. They didn't benefit all that much in the recent run even tough their earnings were good. I'm looking to add some of UF's gorilla's to my portfolio on the next test of the lows. I like ITWO, BRCD, and may jump on QCOM for a longer term than I did during the ride down. I also like AOL. They have given me a nice run so far. Like ELON. I have a little since 15ish. Waiting for the RMBS rocket to ignite... -Clappy

To: lindelgs who wrote (29826)	1/25/2001 11:18:56 AM
From: lindelgs	Read Replies (1) \| Respond to of 65232

01/25 10:02 Greenspan Says Tax Cuts Appear Required Over the Next Few Years By Noam Neusner and Michael McKee Washington, Jan. 25 (Bloomberg) -- Federal Reserve Chairman Alan Greenspan said rapidly rising federal budget surpluses will allow the U.S. Congress to consider ``surplus-lowering policy initiatives,'' and indicated he supports some tax reductions soon. ``The sequence of upward revisions to the budget surplus projections for several years now has reshaped the choices and opportunities before us,'' said Greenspan in the text of testimony to the Senate Budget Committee. He said rising surpluses mean the federal debt will be gone by the end of the decade. ``In today's context, where tax reduction appears required in any event over the next several years to assist in forestalling the accumulation of private assets, starting that process sooner rather than later likely would help smooth the transition to longer-term fiscal balance,'' Greenspan said. In prior appearances on Capitol Hill, Greenspan has made clear that he favors debt reduction as the best method for promoting savings and keeping interest rates low. He has been less supportive of tax cuts, and has said he favors them only if the other choice is more government spending. Today, he said, ``the tradeoff faced earlier appears no longer an issue. The emerging key fiscal policy need is to address the implications of maintaining surpluses beyond the point at which publicly held debt is effectively eliminated.'' Greenspan called a rise in spending initiatives at the end of last year's Congressional session ``troubling, because it makes the previous year's lack of discipline less likely to have been an aberration.'' Greenspan urged Congress to take advantage of the improved outlook for the surplus to ``consider a budgetary strategy that is consistent with a preemptive smoothing of the glide path to zero federal debt or, more realistically, to the level of federal debt that is an effective irreducible minimum.'' Greenspan said improved worker productivity has led to the improved budgetary outlook, and said that those gains ``are more than transitory,'' even amid a ``pronounced weakening'' in economic growth. Greenspan didn't discuss his outlook for the economy or monetary policy, though he said that tax cuts shouldn't be viewed as a strategy of dealing with that slowdown. In addition, Greenspan said the U.S. government should avoid owning private assets, although with rising surpluses, that may be ``difficult to avoid.''