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

To: chic_hearne who wrote (72280)	2/27/2001 10:56:34 AM
From: awi	Respond to of 436258

The exit door is only so big. It's been pretty orderly so far, but no one has yelled "fire" yet. I guess some are getting there by now: dailynews.yahoo.com ``These numbers are real negative, even the housing market has collapsed and also consumer confidence is negative and durable goods orders,'' said Peter Cardillo, director of research at Westfalia Investments. He said the market may rally on expectations of more interest rate cuts by the U.S. Federal Reserve (news - web sites), in the wake of such data, but added: ``Once reality sets in, we have to realize that perhaps total recession is upon us, instead of pockets of recession, and of course what does that mean for growth and for corporate profit growth going forward.''

To: chic_hearne who wrote (72280)	2/27/2001 11:04:31 AM
From: Perspective	Read Replies (2) \| Respond to of 436258

Despite my trader's desire to see this result in a momentous panic, we are actually tracking the 1929-32 experience very closely right now. We have parted ways with the Japanese experience by moving to another new low so soon after the first couple rate cuts. Review the 1929 event. It was orderly the entire way down, as Clowns watched their "investments" halved, halved again, and halved again. We've accomplished the first halving, and are working on the second. Note that, while that scenario sucks for put holders, it is a short-seller's wet dream. BC