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

To: Dealer who wrote (43734)	10/31/2001 10:43:08 AM
From: Dealer	Respond to of 65232

10:09 ET 30-Year Bond Is Gone : The Treasury has suspended future 30-year bond issuance; Treasury had been curtailing 30-year issuance in recent years due to the government's shrinking borrowing needs. This move came at a surprising time given that the surplus is now shrinking. The 30-year bond is skyrocketing on this news and is now up over 2 pts with a yield of just 5.07%. This rally is limited to the 30-year; the 10-year is actually trading lower as it has more of a supply burden. These yield curve shifts will not have any economic impact.

To: Dealer who wrote (43734)	10/31/2001 10:49:16 AM
From: Sully-	Read Replies (1) \| Respond to of 65232

Hi Dealer, Perhaps you were a bit early on those puts. However, they are Dec's & a number of folks I follow, including our Jimster have us heading lower than we were yesterday in that timeframe. Right now, Zeev has us running perhaps until 11/7 in a two steps forward, one step back mode before we head south. AA on the E-Wave thread had his bearish preferred count trashed by this mornings run. He's now pondering if the bullish alternative is in play...... or not. You might want to look at taking some lumps if the NAZ keeps looking strong & reload later. But then, I could be all wet & this might be a rally without legs as Mr. Cashin-his pants said.

To: Dealer who wrote (43734)	10/31/2001 4:11:23 PM
From: limtex	Read Replies (1) \| Respond to of 65232

dealie - Art won't think it has legs till its risen a good few hundred points to be sure. Everyone has lost confidence. Most people flying on pure hope value as any prediction for the economy is total and complete guesswork and no better than looking at tea leaves. Anyone with a dime in the stock market is gambling. OK so long as we all know its pure gambling and its addictive and it has wiped out the net worth of hundreds of thousands. But we still have that most expensive of all commodities.....hope. Best, L