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To: Andrew G. who wrote (92841)	4/11/2001 12:56:09 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

you are very astute in pointing this out. whenever the broader indices are not confirming a rally attempt, it is one of the signs that the rally will likely not hold. as Mr. Moto mentions in his monetary report, we are witnessing a Fed induced artificiality...they are specifically trying to goose the stock market via repos and coupon passes. the problem is that IF the reflation attempt works, we'll get runaway inflation in goods and services. so no matter what they do, it will be the wrong thing to do. the biggest mistakes were made DURING the boom and everything that's being done now is merely delaying the inevitable.

To: Andrew G. who wrote (92841)	4/11/2001 12:59:22 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

interesting quote from Moto: <<The problem is, as the Reserve Bank of India once explained, one of "first committing to borrow repo funds and only then investing the same in securities, such that the position in securities would not have been there but for the commitment of these repo funds."1 Consequently a false market is created. Which, incidentally, I do not believe is among the Federal Reserve's chartered duties.>> indeed. it's not their business to goose stocks. which is one of the reasons why the ECB is looking better and better compared to the merry pranksters.