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Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (5723)	12/11/2002 12:10:08 AM
From: GraceZ	Respond to of 24758

Many comments are about how foolish people are to believe that there is a PPT that is influencing the direction of the market. Absolutely, as long as someone clings to this myth they will never be able to really understand what it is that moves the market this way and that on a daily basis. I have asked a couple of questions that you did not respond to. Is there a reason for that? One of them was whether or not you believed that the FRB ever conducted open market activities with the intended result of influencing the equities market? I not only answered it, I gave a specific example where the Fed acted to provide extra liquidity in the aftermath of 911 to keep the markets from panicking. This is what they were chartered to do, their actions were well documented. Clearly I believe that the money supply has a relationship to the markets otherwise I wouldn't bother to follow it as closely as I do. >>>>So is it your contention that the member banks conspired with the Fed to bring asset prices down in the last two years? That's a pretty serious allegation. <<<< No, this is not my contention at all. If one believes that the Fed has routinely interfered in the equity markets along with the member banks to influence the movement of the equities market, then this is about the only contention you could make because we've had almost unrelenting down for over two years.