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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (37358)	3/20/2001 2:23:27 PM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

Now lets see if 1155 holds well and we attack 1188...<<The Fed's decision to opt for a half-percentage point cut, instead of the more dramatic three-quarters of a percentage point reduction financial markets had hoped for, may disappoint investors. To underscore its determination to keep recession risks at bay, the powerful central bank also cut the discount rate -- charged on direct Fed loans to commercial banks -- by a half point to 4.5 percent. In a detailed statement issued at the conclusion of the Federal Open Market Committee meeting, the Fed said it still sees excessive weakness as the main threat to the U.S. economy, clearly implying it stands ready to cut rates again if necessary to keep the record expansion in the world's largest economy from stalling out. >> Message #37358 from IQBAL LATIF at Mar 20, 2001 8:17 AM My view is -- If we get 1% chance-- fair.. we get to rally to 1178-82, fail and re-test 1138 and bounce to 1188 area.. If we get .5% chance-- most probable, AG will not give in to the gun held on his head, he knows economy and liquidity is good and he knows that we will see better days.. we fall to 1118-28 area and I think we still bounce to test that 1180 resistance a fair one too.. if we are uanble to take out 1155 we may see 1180 taken out, it may be construed as a vote of confidence by FED in the economic outlook of the nation...