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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: Joseph G. who wrote (7041)	9/25/1998 4:36:00 PM
From: MythMan	Read Replies (2) \| Respond to of 86076

>>But some market strategists still believe that bear market conditions prevail despite the outlook for a reduction in the Fed funds rate -- the overnight lending rate which stands at 5.5 percent. "A rate cut is more necessary for problems outside the real economy," said Bill Meehan, senior market analyst at Cantor Fitzgerald & Co. "I don't think it's going to help the economy very much, and it's certainly not going to help corporate profits," Meehan said. As evidence, market breadth on the New York Stock Exchange remained negative with declining issues outpacing advances, 1,642 to 1,398. Overall volume on the Big Board was brisk with 727.7 million shares.<< How many days can rallies be attributed to Fed? Only the big 4-5 stocks on the Naz carried the day.