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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (63498)	1/31/2001 12:30:13 PM
From: Earlie	Read Replies (3) \| Respond to of 436258

John: The belief in Greenspan's ability to rescue the globe is beyond imagination. That said, I think that belief is providing us with one of the best shorting opportunities of the past several years. He is a one-trick-pony and his act is getting dreary. As many have noted, credit expansion is self-defeating as it requires more and more to accomplish less and less over time. The flood of ugly news, particularly the lay-offs, is not going to abate as a result of an interest rate reduction. Methinks the old fossil has forgotten the low level of compressive rigidity one finds in string. (g) I have noticed over this last year or so that the market no longer ignores bad news (as it did when the mania reigned) but rather attempts to ignore it for a spell, then reacts violently as the news piles up. As far as I am concerned, this market behaviour is "bear heaven". (g) Best, Earlie