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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Woody who wrote (41351)	10/15/2002 12:42:50 PM
From: Woody	Read Replies (2) \| Respond to of 79319

An open question to anyone who might have an opinion. I just don't understand the logic or lack there of for the actions of the Fed. As of 12 PM today the Dow has moved up almost 1,000 points in the last 3 1/2 days. It took about 15 days to drop the same amount. Now I admit some of it was event driven and the markets were technically over sold but what I just can't come to grips with is if the market is in rally mode why the Fed adds liquidity. Like today .. C reports a little surprise which actually may turnout to be a negative because they included gains from the sale of a building and the market gaps large. Now it's not like this news wasn't out before the Fed acted but they added liquidity anyway by 4.75 billion in overnights. Last Thursday the market rallied and the Fed added 6.5 billion then Friday the market rallied again and the Fed added 5.75 billion. Why ? Are we on the verge of "something" ? A rate increase maybe ? I wonder ....... Any ideas ? Thanks Woody