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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (36131)	4/21/2001 1:26:43 PM
From: stockman_scott	Read Replies (2) \| Respond to of 65232

Fed on Alert for Further Economic Slowing <<DEWEY BEACH, Del. (Reuters) - Federal Reserve Bank of Philadelphia President Anthony Santomero said on Saturday he did not expect the slumping U.S. economy to slip into recession but made it clear that the central bank was poised to quickly lower interest rates again if necessary. Santomero, who is not currently a voting member of the Fed's policy-setting committee, was speaking just four days after the Fed took financial markets off guard with a surprise half-point cut in benchmark borrowing costs to 4.50 percent. That was the central bank's fourth half-point easing this year -- and its second between regular scheduled meetings -- in a bid to kick-start flagging economic growth. ``Should further weakness in spending materialize, the Fed has the latitude to again respond quickly and effectively. Just as I believe we have done in the past four months,'' Santomero told an audience of bankers at a regional banking conference. Santomero said he expected the U.S. economy, which grew at a paltry 1.0 percent annualized rate in the fourth quarter of last year, will continue growing sluggishly through the first half of this year before again rebounding to a more robust pace. ``The pace of growth slowed sharply in the fall of 2000, and I expect that growth will remain slow throughout the first half of 2001. While considerable uncertainty remains and there are risks along the way, I do not expect this slowdown to halt the economic expansion,'' Santomero said.>>

To: Jim Willie CB who wrote (36131)	4/21/2001 1:51:09 PM
From: pinhi	Read Replies (1) \| Respond to of 65232

BTW, J Dub, you owe me an ass whippin'. I was pullin' your leg on the CH thing. Best, Pinhi

To: Jim Willie CB who wrote (36131)	4/23/2001 7:26:20 AM
From: Clappy	Respond to of 65232

IrishSodaBreadJimmy, what is your fave short candidate? mine=AMZN (=>12) Yeah AMZN looks vulnerable. Might meet with it's 50dMA in low volume freefall. YHOO filled an open gap it made in early March. Might be ready to revisit 16-17... PMCS looks like it drop back to it's 50dMA to near 36. I'm not sure I'll be shorting much though. Maybe just a small amount. Instead I think I will be prepared to buy the dip if it appears that selling is absorbed by the institutions. BEAS, CIEN & CHKP have been incredibly strong lately. Somebody loves them... One chart that has caught my eye is the US Dollar : stockcharts.com[h,a]dacayymy[dc][pb50!b200!b20!f][vc60][iUb14!Lh14,3!La12,26,9] Head and shoulders... The Chip sector believes in Greenspan's rate cut but I'm not sure the rest of the world does... Inflation on it's way? If so, will Al be ready to raise rates during a recession? I'm not sure what to make of the chart of the $XAU (gold miners). In light of Goldman's lowed expectations of NEM, I'm wondering if someone is trying to get rid of their short positions... If gold keeps going up, then big bets are being placed that we might see world wide recession. Some of those gold miners stocks could be thought of as buying un-expirable option contracts in gold... Think about it. They are able to produce the stuff right now at these super low prices. If gold goes up to a normal price, these companies will show one hell of a balance sheet. (Especially those with a small hedged position against their inventory.) The stock price of these companies will grow exponentially to the price of gold. If it moved around quicker, I would be tempted. But I'm a friggin' fat fish looking for a worm that jiggles up and down, up and down. The Naz is my worm. That's probably why I've still got the taste of dirt in my mouth...<g> -CharlieTheTunaTheNazJunky