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To: Copeland who wrote (6870)9/23/1998 4:51:00 PM
From: Joss  Respond to of 86076
 
Hi Copeland,

If the fed does lower rates...I think it means a recession is soon to be upon us. Thus, if I were a Bull, I would be worried about earnings not showing up. I, like you, did not hear a promise, or even a hint, of lowering...but he may do it. If not, this market heads south quickly. If the fed does lower, the market heads south more slowly after the Fed induced rally.

Steve



To: Copeland who wrote (6870)9/23/1998 4:54:00 PM
From: yard_man  Read Replies (2) | Respond to of 86076
 
I can't read anything in the speech which hints to me that a rate cut is going to happen immediately. Speech was about other countries and the international system -- notice the reiteration of the "oasis" language. He's certainly not trying to pump the market up.

If it doesn't happen, I know what will follow -- a retest of earlier lows. If it does happen, I don't know.


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