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To: Mani1 who wrote (65403)	12/11/2001 1:38:59 AM
From: Joe NYC	Respond to of 275872

Mani, Market has priced in a recovery in early 2002 and I am not sure that is the case. If recovery is so imminent and close, why is the fed presumably lowering interest rates and why are the law makers mulling over a stimulus plan? Generally, the Fed is right, the lawmakers are wrong in their timing, and if both are trying to stimulate at the same time, they cancel each other, and can't be used as predictor. IMO, the signal that the recovery is at hand would be if Congress still talks about stimulating the economy, but Fed stops cutting the rates, and becomes neutral. Joe

To: Mani1 who wrote (65403)	12/11/2001 1:46:50 AM
From: ptanner	Read Replies (1) \| Respond to of 275872

Mani, re: "If recovery is so imminent and close... and why are the law makers mulling over a stimulus plan?" Maybe I am just being cynical but my first response is that law makers are mulling a stimulus plan simply "because they can" (the public wants or accepts action in general) and the process always seems to provide some gravy to favored parties. Just my cynical (and OT) opinion of the proposed stimulus plan and the distribution of the benefits. WRT to the market's status... I am cautious and tend towards feeling it is over-bought. There still seems to be a lot of bad economic news at the street level (real streets, not Wall Street). -PT

To: Mani1 who wrote (65403)	12/11/2001 8:01:22 AM
From: niceguy767	Respond to of 275872

Mani: "I agree. I think everyone remembers vividly how he bull market feels and smells like and does not want to miss it. Market has priced in a recovery in early 2002 and I am not sure that is the case." I see Nokia's non-telecom side of its business is up 20%...Telecom down 20%...(Perhaps an indicator of what part of economy is beginning to show signs of recovery) "If recovery is so imminent and close, why is the fed presumably lowering interest rates and why are the law makers mulling over a stimulus plan?" Many pockets of the economy, telecom for one, remain mired in a slump...or is it perhaps the same reason they gave interest rates a couple of extra shots up when trying to cool off an economy that was already showing signs of colling a little over a year ago?