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

To: IQBAL LATIF who wrote (37480)	3/23/2001 4:19:34 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

I think that yesterday may be remembered as a great day to buy GE MO JPM AXP. I am hearing that may be some big guns are going to annouce major buy backs at these levels, when I said in ealry part of the week that FED and BOJ are in bed and that move of hedge funds will be curtailed by non-selling of Japan after huge selling in DOW and NAZ, we had this 900 point rally after that once Japan stabilised and global contagion was avoided we had huge buying in the semis yesterday and NAZ.. Very nicely planned move that blunted the hedge funds big as I hear a lot of them have been caught DOW short below 9200, just a rumor... The buy back shows the confidence as GE guidance for first quarter that is on the mark, now a close above 9500 may be good plus 1142 area is not bad. I would have taken it for next week anyday this close, but the convergence of the AAA corporates and long bond plus a new lease of life to the junk bonds will make a huge difference to the struggling companies with massive debts. TMT move today was just a precursor of nice big treasury based move. Uncle AG is not all that bad, I once wrote here that FED is like a small 'white baby scorpion', don't ever mess with it, today they say 'that don't mess with FED you are messing with history' what a change of language with one smallish shaft.. BTY has 45 billion $ of debt, the corporate refinance and cost in tight market is a night mare in a liquidity driven MZM market the yields are dropping, the TB and corporate debt secure and unsecure is now converging, this is what AG does the best, first raises the liquidity than makes things easier for the big corporates to manage debt, remember LTCM, we are now looking at a new picture today a great move that will send shocks down the spines of many a bears, what if I am seeing and what I am reading is to be believed get ready for a major year end revision of my SPX targets, but I will wait for the next week, I will have more numbers and more data to go through my small little mind,gg and hopefully I will be more assuring to my 'long' friends, bi bi for this beautiful end to otherwise very difficult week..