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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Dale Knipschield who wrote (16007)	5/17/2001 11:11:48 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

Knip, the compensating side of the inflationary pressures of high energy costs may very well be a major tax cut (particularly if they make it retroactive), so from an "econometric" point of view, possibly these two cancel outs. I really do not think that there is a current shortage of crude or energy resources, possibly a mal distribution. So far, BLS has managed to hide a good chunk of the energy costs on inflation, I have no way of knowing if it is correct or not. The long term bonds seems to be sniffing some inflation (and may act as strong competition to equities), but right now, I still think that the pendulum is going to move from excess pessimism to excess optimism, and thus give us a relatively strong ride up. As the Clintonites used to say, "It is the liquidity, stupid" (g). I "would have preferred" a solid capitulation in late March early April, the fact that we did not have it keep me looking for catalysts causing another major swoon down, but right now, I cannot see anything, yet. Zeev