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

To: stockman_scott who wrote (38275)	6/27/2001 3:40:04 PM
From: Sully-	Respond to of 65232

15:34 ET Market Reaction to Fed : Why the rally attempt off the lows when Fed action is viewed as a disappointment? Traders attempting to catch shorts leaning in the wrong direction, while aggressive investors use intraday price weakness as a buying opportunity. With it clear from this last policy move that the Fed is beginning to ease itself out of the picture, investors/traders able to take back control of the market. Especially in tech, disappointing Fed move being viewed as a trading opportunity. In the same fashion that major warnings over the past two days from AMCC and VTSS have been viewed as a chance to fade the obvious reaction to the news. Have reached the point in the equity market downturn that bad news is considered a trading opportunity, particularly when it is clear that there is heavy short exposure (Dow -20, Nasdaq -11). Ö¿Ö

To: stockman_scott who wrote (38275)	6/27/2001 4:20:21 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 65232

according to a recent article in the Washington Post, some officials at the Fed are ``increasingly concerned'' that the economy isn't responding to lower interest rates the way it has historically. DAAAA Keystone cops at the helm finally drinking from the cup of reality and perhaps realizing finally the errors of their ways in their mindless tightening cycle in 1998-98 they totally ignored the natural forces of Post-Y2K which would have slowed us down plenty now we will slow down a lot more than plenty and grow with stagnant pressure during the recovery phase utterly amazed at the consitent track record of these guys to disturb an extremely delicate equilibrium in the US Bond market with ripples into other major industrial nation's bond markets, with consequences touching all associated economies and stock markets every time the Fed tinkers, we get - a recession - a meltdown halfway across the globe - a national default on loans - a run on a currency - widespread bankruptcies - decimated wealth or runaway wealth for six months now investors have been living from rate cut to rate cut with little regard to earnings reality and a plethora of FAITH Faith will yield to FEAR, with very high likelihood Faith is a liferaft on which to float when you are buying time, ignoring the temporal reality money to be made in bonds for the next five months !!! watch as rates drop further, loan demands stands still, business investment disappears, and the whole grows fearful over and out in cash, but hardly objective still angry as hell, and sadder still / JW