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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: cnyndwllr who wrote (2040)	3/20/2001 4:13:20 PM
From: Gottfried	Read Replies (1) \| Respond to of 23153

Ed and all, Forbes has cover article on BP Amoco. forbes.com You'll have to register, but then you get to read the magazine the same day subscribers get it in the mail. Gottfried

To: cnyndwllr who wrote (2040)	3/20/2001 4:51:44 PM
From: The Ox	Read Replies (1) \| Respond to of 23153

Hi Ed, I was looking at the CBS markewatch home page and they had a little chart of the FED's rate actions. I guess what stands out is that there were mostly small hikes all the way up. Now, we've got a FED that's dropping in larger steps on the way down. I'm not about to tell the FED what to do or how to do it but my opinion on the matter is that the FED should have been doing the same on the way down that they did on the way up. I suppose that a more steady path, instead of what appears to be waiting too long and then making a relatively large cut, might have been a better signal to the market that FED's watching closely. I've been waiting to read that someone 'big' has been on the wrong side of a FED move and that another LTCM type meltdown is happening all over again. The FED is a conservative bunch, which is why we aren't seeing anything larger than a 50 pt cut at this stage, IMO. It's interesting that the DX is still over $114 and that gold has held steady around $260, even with the rate cut. BTW, MetalTrader has a reasonable post on the SD thread regarding gold's action (or lack thereof) lately.