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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Oeconomicus who wrote (8955)	5/19/1998 11:17:00 AM
From: Joey Two-Cents	Read Replies (1) \| Respond to of 18691

<The big question, of course, is whether the market will use the "news" of no action as an excuse to rally. Alternatively, is this morning's rally the crowds "buying the rumor" and will they later "sell the news"?> R.D. I think this market rallys on any news good or bad. It's amazing to see MSFT higher then when there was only a rumour of DOJ action. I think when AG and WJC met 2 weeks ago WJC told AG about the pending DOJ action against MSFT and AG hoped the anti-trust action against a company like MSFT would be enough to start a long needed correction thus saving him from his duties. Now that the markets don't care about DOJ & MSFT or AG's earlier warnings and he's getting heat from the Board and G8 members he may want to assert his authority. An unexpected hike will keep everyone on their toes for the next few months. Otherwise if he delays until August he risks rising inflation a slowing economy and a bigger asset bubble that will make a rate hike that much more painful. Well either way we'll see at 2:15.