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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (23907)	9/7/1998 10:25:00 AM
From: Big Bucks	Read Replies (1) \| Respond to of 70976

GM, That Greenspan is a master tactician/strategist/politician. He weaves his words very intricately with just enough vagueness that everything he says can have a different interpretation, depending on how the listener "wants" to read the meaning from it. By the way I think an elephant is reminiscent of a snake.8^) BB

To: Gottfried who wrote (23907)	9/7/1998 10:38:00 AM
From: Big Bucks	Read Replies (2) \| Respond to of 70976

GM, If the market perceives Greenspans' commentary as favorable for an interest rate cut, then it will likely rally, which then makes a rate cut unnecessary, and then your comment about stocks being undervalued will likely no longer be true. If a rally pushes the market to Abby Cohen's projection level of 9300 then the FED will likely increase the interest rate as it will be significantly overvalued relative to global markets bringing the spectre of a recession closer to reality. If the market perceives that A.G.'s comments are neutral concerning a rate cut then more day to day volatility on value speculation by traders. Stocks will respond to day to day news events, options expiration and earnings announcements with much volatility. I project the latter scenario. After all it is a snake, isn't it?? BB

To: Gottfried who wrote (23907)	9/7/1998 5:34:00 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 70976

FWIW, futures up very strong. Whether it's AG's comments, AJC's comments, an oversold market bouncing, or a combination of the 3 tomorrow looks to be a very strong day. GLOBEX PRICES AS OF 09/07/98 TRADE DATE: 09/08/98 CONTRACT LAST NET CHGE CONTRACT LAST NET CHGE S&P 500 SEP98 995.50 +1950 EURO $ SEP98 94.442 -1.7 E-MINI SEP98 995.75 +1975 DEC98 94.665 +3 DEC98 1002.25B +1650 MAR99 94.86 +5.5 NSDQ100 SEP98 1231.90 +2715 JUN99 94.875 +6 GSCI OCT98 146.00P ----