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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: chowder who wrote (6292)	1/28/2002 8:04:50 PM
From: Larry S.	Respond to of 206114

The biggest negative for COF today was its being included in the Barron's piece about TYC by the short seller. Additionally, as you said, the chart does not look good at all. COF likely has downside risk to 46-48 if it breaks the strong 49 200 DMA on your chart. Re the fed, i think it is a non-event, and no cut will actually be better than another cut. It would be a more positive outlook for the economy, that the Fed doesn't feel additional stimulus is necessary. As to how it will affect the financials, good question. Historically, if the economy is going to strengthen, then money flows from defensive issues like financials and drugs into the growth area, tech, etc. The Fed's wording will be critical. It is hard to imagine that Greenie will be other than cautious, perhaps citing "glimmers of hope" and "increasing the probability that the economy has or will soon bottom". personally, i think we are going to have a double dip recession, and the first upswing will be followed by another nasty leg down. too much has happened, between business contraction, layoffs, 9.11, etc to make me feel comfortable that we will have a U, V, or other letter recovery, probably a W, and possible a downward sloping L - which would be terrible. larry