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

To: IQBAL LATIF who wrote (20975)	10/20/1998 4:22:00 PM
From: Ross	Read Replies (1) \| Respond to of 50167

IQ, You said "Not in an environment when bond moved from 128 to 135 on speculation" Hmm... Don't you think, that "just possibly" the bond is moving down because the fed is fueling the very speculation that your suggesting. That the fed may be wrong.. If earnings are improving (moving forward) then why cut the interest rate? This would cause a speculative bubble worse than we're already are experiencing.. These are not my words but they sum up my feelings: "I have observed that it is not the masses being wrong about the market, it is the masses that cause the markets, if the majority are bullish, the result is they buy till they can no longer buy, and then without buyers there is little market support. When the majority sell and you run out of sellers, the buyers reign. Supply and demand govern all markets eventually." If this is a bull market, it would be assumed that the smart money is accumulating; if this is a bear market, it would be assumed that the smart money is distributing (and that the Fed has given them the opportunity to do so with the rate cut)." Ross