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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (25148)	1/25/2001 12:39:14 PM
From: Bwe	Read Replies (2) \| Respond to of 34822

JXM, The gradualist approach that Greenspan took toward rate tightening over the last year or so just seemed to prolong the agony. The life was choked out of the markets in water torture fashion. And the tightening went on way too long, especially in retrospect. What I was hoping for as an investor was to see the bias lowered in November and a rate cut in December. The dramatic rate cut in January was late but turned the tide of market psychology. If I learned anything as an investor last year, it was that you're playing on borrowed time with a market unfriendly fed. Zweig knew it 20 years ago and the market taught me about it last year. As a long term investor, my horizons had to shorten and gains and losses taken more quickly. Take care, Bruce