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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: N who wrote (24518)	8/17/1998 2:39:00 PM
From: Daniel Ray	Respond to of 94695

I agree that a decrease this week is unlikely . . . however, for the next meeting, a 1/4% decrease is now a high-probability event, IMO. The only argument against a decrease, again IMO, is that it would contribute to the 'irrational exuberance' in equities. All other factors, both internationally and domestically, call for a marginal decrease. Ultimately the FED will not base policy on stock market valuations. They may however decide to raise margin requirements at the same time they lower the discount rate . . . now just try and figure out how that would move the SPX! Best wishes all