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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: Smart_Money who wrote (68008)	8/16/2002 12:57:02 AM
From: James C. Mc Gowan	Read Replies (3) \| Respond to of 208838

So, it's noontime in NYC, the Philly Fed comes in some 10 points BELOW expectations, market dumps. Now it's 2pm and Federal Reserve notes, from 7 weeks ago, are released, and the governors are convinced with have signs of recovery. Market rallies. Wait a minute, didn't I see that Greenspan and the govs had concerns about the economy in the release after the Fed meeting this week? Does this mean that the Feds are confused, or that they just change their minds every few weeks, or, well, does anything Greenspan and the Fed puts out mean anything at all; welcome to Wonderland, where down is up and up is down. Just give me some of those solid government economic statistics, so I can make an informed analysis of the trend. No wait, I'd better wait for the revised GDP, Productivity, etc. Then I'll know for sure. Revised back 3 years? Oh No. Or how about some corporate earnings statements and growth projections. I mean the straight dope from the horse's mouth, not some fabrications from sleazeball Street analysts. Now, I can really do some number crunching that will yield a clear picture. Oh oh, the earnings for the last 9 years were just revised, but now we know what's really happening, right. All the facts are in. Wait, the earnings are still proforma, include phantom gains from employee pension funds, and exclude the cost of employee stock options, etc. Oh screw it, I'll just use the charts, they don't lie. Really. Ooops, we just came back from down 300 points on Dow and now we are UP 400 points, in 2 hours! What was that! CNBC says: bargain hunting/computer buy program/hedge funds elves mischief/reallocation from bond funds/positive reaction from Prez speech/Greenspan testimony/end of month window dressing/options expiration maneuvers/important support hit and bounced or something. Where's the Guidance and Visibility,ggggg/ng. James