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To: Mark Adams who wrote (62852)	1/30/2001 11:10:18 AM
From: oldirtybastard	Respond to of 436258

well, you can argue for both theories, but what I think they go to show is that this is far from an exact science and there is no way in hell you can figure out (nor do you really need to), who is acting and who is reacting, since all parties consider the reactions of the other parties in their actions, but can only base these assumptions on activities of the past and spoken hints about future activities. Granted, one party is expected to act in a much more predictable way at this point. Also, anyone who thinks the Fed is 100% on the ball and know exactly what they're doing (seems to be the majority judging by the behavior of the equity and credit markets this month) can very easily be disabused of that notion. Am I making any sense here?