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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Ross who wrote (20970)	10/20/1998 1:03:00 PM
From: Stoctrash	Read Replies (1) \| Respond to of 50167

Ross, where did you read this? Interesting....

To: Ross who wrote (20970)	10/20/1998 3:55:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

I hope Jerry Favors make a nice comparison to the fact that never in four hundred year history of bond trading a firm shorted TB's against junk, long Russia short TB to the tune of 30 billion $ had skewed the yield curve, it looked flat about to turn inverted, omen for a huge recession but this yield curve took no time in turning to a normal growth oriented curve as yields rose and prices dropped once the positions were unwounded, how can he neglect exaggeration. Not in an environment when bond moved from 128 to 135 on speculation, now the pundits realise may be it was not the impending deflation but huge speculation. The bond is back now to 128 level, moreover Fed is in a mode which may see rate lowered until begining of next year I would think that market is thinking now rates to be cut another 75 basis point, the last hundred year has also not seen earnings beating street expectations by margin which no one really anticipated, the BKX sector took the market down remeber my level of break of 600 it is this sector I predicted would lead the market higher so it is doing, but I agree we would need to be very careful and earnings more than cuts will drive this market...

To: Ross who wrote (20970)	10/20/1998 4:15:00 PM
From: IQBAL LATIF	Respond to of 50167

By the way this guy was looking for 6400 on Oct 21st-- he just missed it by 2000 points- not a bad performance for someone who lives in history and is a Rip van winkle of the markets...When I listen to him I feel how anyone can stand his crap-- comparing stone age with Silicon age.. I am trying to figure out the wheat trades in ancient pre- historic time and will like to post soon the comparisons of commodity prices charts in times of Noah with that of CRB index of 1998-- my model see some close similarities.Good luck Jery next time--