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To: Boplicity who wrote (31)2/13/2001 4:33:16 PM
From: Raymond Duray  Respond to of 13815
 
Greg,

Re: the market is collapsing before my eyes! Maybe we will get the final purge here to 1900.

Wishful thinking, I'm afraid. AG will not let this happen. He can't afford to see consumer confidence crumble to the extent it would if there was a wipe-out of the NAZ. He'll use the discount window if needed to goose the markets and keep the sentiment at least somewhat neutral. Besides which, if the market hits the 1900 level, who's to say it is purged? Enigma or enema, I see no prospect that the Fed will let us wallow in the despair of that miserable fear-inducing level. Just too plain scary to countenance.

Good commentary on today's Humphrey-Hawkins blather fest here:
204.179.240.78

Best, Ray :)



To: Boplicity who wrote (31)2/13/2001 4:57:32 PM
From: brightness00  Read Replies (2) | Respond to of 13815
 
Greg,
IMHO, there's too much unwarranted pessimism in the air to get the NAZ lower, for the time being anyway. Just look at the ridiculous AMAT downgrade today.
Jim


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