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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Ibexx who wrote (40679)	10/27/2002 3:37:08 PM
From: John Madarasz	Respond to of 52237

nahhh, never happen...that's way out of the realm of possibilities<gg> snippet of commentary here... Prior to the single-day meeting of the Federal Open Market Committee, on November 6, voting members of the committee will have the following major economic reports for review. Chicago PMI, Wednesday, October 30 Employment Cost Index, Thursday. Emploment Situation, Friday Personal Income and Expenditures, Friday ISM/NAPM Manufacturing Index, Friday A daunting line-up, if ever there was one. And, the ISM/NAPM Services Index, Tuesday, November 4. Sufficient evidence, I would think, on which to reach an official and firm conclusion. Dallas Fed President Robert McTeer and Fed Governor Edward Gramlich dissented in favor of a rate cut during the last Fed policy meeting. News from various services, ...included speculation the European Central Bank is prepared to cut its policy rate. The IMF has openly urged the ECB to do so. The next ECB policy meeting convenes November 7. Three of the nine members of the Bank of England's Monetary Policy Committee voted on October 10 for a 25 basis-point cut in the securities-repurchase, or repo, rate. The next MPC meeting will be held on November 6 and 7. The furious rally in share prices over the past two weeks, and what effect it could subsequently have on Western economies, might have placed in jeopardy a coordinated rate cut by three of the world's most influential central banks. Recent evidence certainly suggests the Fed's involvement in sparking stock market rallies. Too, I may have mentioned in recent weeks the Fed's possible preference for other policy options and actions prior to expending more of what basis points are certainly in short supply. St. Louis Fed President Poole remarked on Wednesday, that the US economy is “recovering all too slowly from last year’s recession.” One report suggested Mr. Poole's remark as the source of the afternoon surge in the major US stock indexes. Although it has been some time since it last happened, and, if I recall correctly, Mr. Poole was always one of several Fed officials involved in subtle suggestions of a rate move in advance of one that eventually was implemented. These types of statements are intended to enter the mainstream business reporting media, so you might be alert to more official opinion in the two weeks ahead. ECB President Wim Duisenberg, on October 9, ... Even if not so nice, if I compare the euro-area economy with the other major economies in the world, which have followed, let me call it, more-aggressive interest rate policies. If one looks at the result that these policies are having, then I ... am still convinced that our policy stance ... is a policy stance that is worthwhile to highly value. Now, I wonder what that was supposed to mean? See you soon...