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Strategies & Market Trends : Anyone following Capstead (CMO)?? -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (116)	9/25/1998 3:05:00 PM
From: James H	Read Replies (1) \| Respond to of 216

Appears the market is liking the possibility of the interest rate cuts. At least CMO positioned herself for this possibility. Only fly in the ointment is if the fed doesn't cut rates. Appears the last few days that the market has moved based on a 1/2 point decrese. I'm still not convinced the fed will cut. Greenspan is so hard to read. If the fed does not cut next week, I expect CMO to sell off again. Will be a good buying opportunity, because if the fed doesn't cut now, they will cut at the next meeting. I felt like an idiot after buying at 27, feel damn smart buying at 3. I'm hoping that CMO will be one of those examples of fundamentally good companies that stumble and eventually rewards those with the foresight to hang in there. JSH