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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (8054)	9/23/1998 3:02:00 PM
From: Char	Respond to of 25711

Joe I live in Orlando and my mother in law lives in Punta Gorda. If you have young kids I would seriously consider moving to some other location with a younger population. I really don't think there will be many 40's couples in Naples for you to socialize with. Dave

To: Joe Copia who wrote (8054)	9/23/1998 3:10:00 PM
From: Nescom	Respond to of 25711

Stocks rally on Greenspan's comments NEW YORK, Sept. 23 (UPI) _ Stock prices are sharply higher in busy late afternoon trading (Wednesday) on the New York Stock Exchange, lifted by comments from the chairman of the Federal Reserve. The blue-chip Dow Jones industrial average, which slipped 36.05 points Tuesday, is up 125.64 points, or about 1.60 percent, to 8022.84 around 3 p.m. EDT. The Dow shot up more than 104 points during the first 30 minutes of trading, triggering the Big Board's so-called ''downtick rule'' which limits certain types of program, but gave back half of those gains before resuming its climb. The broader New York Stock Exchange composite index is ahead 8.60 to 519.20, while Standard & Poor's 500-stock index is up 16.59 to 1046.22. Advances are ahead of declines 2,172-855 among the 3,481 issues crossing the NYSE tape. Volume climbed to an estimated 667.90 million shares from 544.20 million shares changing hands during the same period Tuesday. Prices are sharply higher on the American Stock Exchange and on the technology-laden Nasdaq Stock Market. The Amex composite index is ahead 7.25 to 640.70, while the Nasdaq composite index is up 37.58, or about 2.2 percent, to 1735.38. Long term Treasury securities are lower, pressured by the strong performance of the equities market and following Alan Greenspan's testimony to the ZSenate Budget Committee. The bellwether 30-year Treasury bond is down 6/32 to 105 2/32. The issue's yield, which moves in the opposite direction of its price, is 5. 15 percent. It is up slightly from Tuesday's 5.14 percent. Analysts said stocks jumped in early dealings ahead of Greenspan's late afternoon testimony before the Senate Banking Committee. However, blue chips gave back a large portion of their initial gains, although the broader market continued to perform well. Dealers said investors were hoping that Greenspan's comments would contain hints at the possibility of a rate cut. Greenspan strongly implied that a cut in U.S. interest rates is imminent. The Fed chairman said the international financial contagion has increased the odds of an economic slowdown in the U.S. while keeping inflation in check, hinting that the central bank may start to cut interest rates. Greenspan historically has been very closed-lipped about his plans for Fed policy during such testimony and was not expected to reveal much more during the session. Traders said investors, eyeing the appearance and the proximity of next week's Federal Open Market Committee meeting, were enthused for what some expect will be a rate cut of at least one-quarter percentage point at the policy-making meeting. Nancy Kimelman, chief economist at Thomson Global Markets in Boston said ''the majority of Fed officials have refused to speak about the direction of policy, a strong signal that they will seriously consider any proposal that Greenspan brings to the table next week.'' The last time the Federal Open Market Committee, the Fed's policy- making arm, lowered monetary policy was back on Jan. 31, 1996, when it trimmed both the Federal Funds rate to 5.25 percent from 5.50 percent and the discount rate to 5 percent from 5.25 percent. But, the Fed lifted the Fed Funds rate by a quarter point back on March 25, 1997 to its current 5.50 percent. The Fed controls monetary policy by changing interest rates and the amount of money in circulation. The Fed, in theory and by law, is supposed to keep the economy at full employment while maintaining price stability. The discount rate is the rate banks pay to borrow money from the Fed to meet reserve requirements. The fed funds rate is the rate banks pay to borrow money overnight from other banks. The FOMC will hold its next policy meeting on Tuesday, Sept. 29. _- Copyright 1998 by United Press International. All rights reserved. _-

To: Joe Copia who wrote (8054)	9/23/1998 3:18:00 PM
From: Due Diligence	Read Replies (1) \| Respond to of 25711

DDSI moving today,Joe. Are you watching?

To: Joe Copia who wrote (8054)	9/23/1998 3:58:00 PM
From: dan oreilly	Respond to of 25711

Joe: SCMI seems to have come back to life today.Any thoughts on what may be behind todays move?

To: Joe Copia who wrote (8054)	9/23/1998 4:18:00 PM
From: musicguy	Read Replies (1) \| Respond to of 25711

Joe, Take a look at Marco Island.... MG

To: Joe Copia who wrote (8054)	9/23/1998 6:07:00 PM
From: Captain Jack	Respond to of 25711

>Off topic< Joe, Ft. Lauderdale is awesome. I lived their all summer and I loved it. I also visited Naples during my stay and I would have to say that Lauderdale/Miami is alot more exciting. Guess it depends on what you want.... Quiet or action? CJ