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Strategies & Market Trends : A Simple List of General Do's & Dont's of Trading: -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Tang who wrote (750)	7/24/2001 6:41:59 PM
From: Arthur Tang	Read Replies (1) \| Respond to of 769

Did you ever notice that every time Greenspan testifies on the hill, Wall street tanks. It isn't that Greenspan thinks that he is the king of the hill. It is that his feds speak has been more coherent than ever. No one can forgive him for his policy of getting in front of the curve. Every one knows that you have to wait for the curve to establish before you can make any kind of adjustment in monetary policy. Raising the overnight discount interest rate to an unheard of rate of 6.75% for half a year caused so much damage that banks started to pull rugs from under all their customers. Now the overnight discount rate is approaching 3.0% and no recovery is in sight. Because of the rug pulling, the malaise set in. Until a push for new products which sells like hot cakes comes, nothing will satisfy Wall street. But if you look at the women's fashion, you know the economy is not asleep.