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

To: Cactus Jack who wrote (42350)	9/21/2001 1:20:08 PM
From: stockman_scott	Respond to of 65232

Fed running an undeclared zero interest rate policy? investavenue.com

To: Cactus Jack who wrote (42350)	9/21/2001 1:28:28 PM
From: stockman_scott	Respond to of 65232

Battapaglia: 'Foolhardy' To Predict Mkt Bottom ( finally he admits it ) By Ellen Sheng Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Although the Dow Jones Industrial Average has fallen 1500 points since the Sept. 11 terror attacks, Joe Battapaglia, market strategist for Gruntal & Co., believes it would be "foolhardy" to predict a bottom, given the magnitude of issues involved. With the threat of terrorists and war looming, investors are dealing with far greater uncertainty than before. Battapaglia told Dow Jones Newswires he is not surprised at the record volume or rapid drop in the markets, and that he believes there will be more "rough going" until consumers and businesses recognize the benefits of the macroeconomic stimulants that have been put into place. Battapaglia calls the next eight weeks "essential to defining what this war will entail and what it will not entail. It will give investors a sense of when normal patterns of business will emerge." In the meanwhile, he advises investors to be realistic about their risk tolerance as well as immediate obligations and goals. Long-term investors should stick to balanced portfolios, but look carefully at the debt levels of companies. "In a recession, companies with little debt should be favored, and those with weak financials severed," he said. -By Ellen Sheng, Dow Jones Newswires; 201-938-5176; ellen.sheng@dowjones.com