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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: MikeM54321 who wrote (4334)	6/10/1998 9:22:00 AM
From: Mark Myword	Respond to of 9980

>> Funny, I just saw a little teaser on CNBC (I wonder if you receive that in Malaysia?) concerning Abby Cohen giving the market a boost today<< Mike - Abby Cohen is no different than all the other paid hypesters on Wall Street. She is simply the one that is getting a lot of exposure right now because she is a woman , a mother , and they can push her as a common-sense voice on the markets. And to her credit , she has been more or less consistently right for the past four years of bull market. I don't try to take that away from her. I remember when Elaine G. was hot - they had her trotting all over the place to make statements. I guess the point is, they would show you a trained raccoon giving stock tips in sign language , if that would generate more business for the industry. The market has been very nervous and volatile recently , so they call on "Dear Abby" to provide a soothing , matronly , "everything's-gonna-be-OK" PR release - no surprise. It's all part of the psychology management of Wall St. that is so vital to keeping this sick bull on its feet a while longer.....and no, I'm not a cynic , just a realist. Best of luck to all.

To: MikeM54321 who wrote (4334)	6/10/1998 12:03:00 PM
From: MikeM54321	Read Replies (3) \| Respond to of 9980

Re: Alan Greenspan (What did he say?) I earlier wrote: >> Didn't inventory levels rise to record levels in 1Q98? << Greenspan says: >>U.S. Federal Reserve Chairman Alan Greenspan said on Wednesday that an unsustainable rise in inventories could slow abruptly and that strong monetary growth showed financial conditions were being accommodative of strong demand. ''The clearly unsustainable rise of inventories that has been evident in recent quarters will be slowing at some point, perhaps abruptly,'' Greenspan told Congress's Joint Economic Committee.<< Does someone understand what he is saying? Is he saying what I think he is? That consumer spending is going to clear out inventories, maybe even, "abruptly?" It sure is a very bullish statement. If so, he just knocked right out from under me, one of the legs in my generally bearish stance. MikeM(From Florida)