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Pastimes : Trading the markets..... -- Ignore unavailable to you. Want to Upgrade?

To: sandeep who wrote (3158)	1/31/2001 2:31:06 PM
From: Chip McVickar	Respond to of 4583

Taking any position any where near this powerful announcement is just gambling..., But Fun if you have the pockets...! I'm long some stocks right about where GZ went long and would not sell them on this news. But not long futures. 2:15 pm ET FED CUTS FED FUNDS RATE BY 50 BASIS POINTS TO 5.5% 2:15 pm ET FED CUTS DISCOUNT RATE BY 50 BASIS POINTS TO 5% 2:15 pm ET FED SAYS CONDITIONS CALL FOR RAPID AND FORCEFUL RESPONSE FROM MONETARY POLICY Now..., it is my strong belief this is a "Mixed Message" for these markets and will result in confussion, and Sell the News will be take over. Typical big boy bombs. After the next series of daily bars we should have a sense of where the market is going, but for now it's most likely down.