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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: whitepine who wrote (17596)	11/8/2002 12:16:26 AM
From: kodiak_bull	Read Replies (1) \| Respond to of 23153

WP, I know you're really a 460 IQ type. (No flies on me!). My view is the zigzag chart I put up and I can't be sure which way we're going to zag. If 8800 was the real top to this rally, then I think it's going down way below 7700. But there are forces at work (PPT, for example, and the entire securities industry) that desperately want to salvage something out of 2002, so it's hard to bet on a tuna melt before early spring. My gut tells me we might just limp along here for a while, and maybe it does sidle between 8300 and 7700 while we prepare for war. What's interesting is that the Fed can cut 50 BP and have the market head south. That's a shocker to me. When the Fed did a surprise cut in January 2001 the markets skyrocketed. Kb