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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (4563)	8/14/2002 11:27:16 PM
From: Jim Willie CB	Respond to of 89467

Intervention Creates Optimism (Puplava's Middleton) We all know that as long as we can keep the markets positive, the consumer will remain confident. And if the consumer remains confident, he or she will continue to keep this economy afloat. At least, it has thus far. It’s no secret from my writing that I give credence to the existence of a Plunge Protection Team (PPT). With that in mind, the primary goal of the PPT is to continue to create optimism in the minds of the consumer and optimism that the economy, i.e. the markets, are on the road to recovery. What amazes me these days is that the activities of the PPT have become much more blatant in recent weeks. This is especially true today. If you look at today’s intraday chart of the Dow, I’d say that around 13:30pm EDT and straight through to the end of the day was a classic instance of intervention. Leading to today’s actions started yesterday after the market learned that the Fed chose not to cut rates. As a result, the market took a nosedive in the last two hours of trading when the expectations of a rate cut did not materialize. Then Dubbya speaks last night about how the economy is not as bad as it seems and all the bad seeds would be hauled off to jail. The market opens this morning, as one would expect, down. However, as the day wore on and more CEO’s and CFO’s submitted their sworn affidavits to financial statements and the spin of the Fed meeting made its way across the media outlets the market started its move. All this news was portrayed as a positive and that now was the right time to buy, according to the media services. Did anyone really buy into it? Probably a few, maybe even some short sellers, but not enough to create the meteoric rise we saw today. The reality of it all is that corporate profits are still weak, people are still getting laid off, and the threat of war still exists on a very high level. With all that, who in their right mind would be buying this market? One thing for sure, its not the mutual funds, as their reserves are being used to cover the record amounts of redemptions they are receiving each day. Financial Markets The Standard & Poor's 500 Index advanced 35.42, or 4 percent, to 919.63, led by Wal-Mart Stores Inc. and Microsoft Corp. The Dow Jones Industrial Average surged 260.92, or 3.1 percent, to 8743.31. The Nasdaq Composite Index climbed 65.02, or 5.1 percent, to 1334.30. All three market gauges recorded their biggest gains since July 29. Two stocks rose for every one that fell on the New York Stock Exchange and the Nasdaq Stock Market. Some 1.51 billion shares traded on the Big Board, 4.5 percent below the three-month daily average. Treasury Markets The yield on the 10-year Treasury rose to 4.10 percent after sliding as low as 3.96 percent © Copyright Scott Middleton, August 14, 2002

To: orkrious who wrote (4563)	8/14/2002 11:42:46 PM
From: pogbull	Respond to of 89467

That was the best interview I've read in years.

To: orkrious who wrote (4563)	8/15/2002 9:31:43 AM
From: Jim Willie CB	Respond to of 89467

bigger view USdollar chart shows critical juncture stockcharts.com[h,a]daclyyay[dc][pb50!d20,2!f][vc60][iUb14!Uh15,5,5]&pref=G pulse: gold #311.7, dollar 107.2 the US$ 50dayMA is now at 107.5 the 20dayMA is rising slightly from the last three weeks the dollar decline in the last few days comes as it collided with the 50MA also, the dollar actually went ABOVE the Bollinger extreme band for a day, only to retreat below it now the 50MA had been descending like a freight train downhill but now has tempered its rate of descent the dollar is attempting to find support with the 20MA now but the daily stochastix are in a downcycle but the relative strenk is in a slight downturn Jan2001 resistance at 108.1 has worked to stall it here also the critical juncture now is clear will the 20MA cross up bullishly above the 50MA ? or will the dollar resume its downward course and retest 103.5? we must look to the fundamentals the trade gap has widened in the last couple months consumer spending has calmed down somewhat exports are not picking up, since Europe/Asia are not strong federal deficits are escalating I heard yesterday that Fed deficit for 2002 is projected to be $420 Billion I see a retest of 103.5 coming soon, very soon / jim

To: orkrious who wrote (4563)	8/15/2002 10:43:39 AM
From: stockman_scott	Respond to of 89467

Mid week analysis amateur-investors.com

To: orkrious who wrote (4563)	8/15/2002 11:41:05 AM
From: Sidney Reilly	Read Replies (1) \| Respond to of 89467

That interview sounded suspiciously like a gold advertisement. And coming from a Canadian too. But it also made some good points. And made me think the good times are over and the best investment is a savings account. And a PS: from another perspective it's interesting that he predicts the collapse of the paper money system. What can replace that and consumer confidence in some sort of currency? Maybe only the new god of this world, the computer. A monetary system based on computers and held and controlled by them. There's not enough gold and people will reject paper money at some point. So what do we trade with? A cashless society?