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To: B.REVERE who wrote (56571)	10/28/1998 12:21:00 PM
From: Lee	Read Replies (2) \| Respond to of 58727

BR,..Re: the northern turn of indicators was not based in fundamentals. It was a fed driven manipulation of the futures that have turned markets around, Would you mind explaining to me how the Fed manipulated the Futures market? The mechanics of the manipulation? We know the Fed has been adding liquidity for awhile and we know they eased rates to offset decreased liquidity, especially in the corporate bond market but when you say 'futures' are you referring to the S&P or treasury or currency markets? Also, re:The 7400 dow was saved by the FED!,no one else and certainly not market sentiment or economic conditions. What is your evaluation of current economic conditions? Durable goods orders today say that business is not evaporating. NAPM is flat, not falling, and selected earnings this quarter have been good. Could probably dig up more published data on economic numbers if more evidence is required. dismal.com dismal.com Regards, Lee

To: B.REVERE who wrote (56571)	10/28/1998 1:08:00 PM
From: James Strauss	Read Replies (1) \| Respond to of 58727

>>>Jim, the northern turn of indicators was not based in fundamentals. It was a fed driven manipulation of the futures that have turned markets around, not specific news that yells "WAKE UP, THE ECONOMY'S BOOMING AND PROFITS ARE GROWING (as Maria likes to say) AS WE SPEAK." The 7400 dow was saved by the FED!<<< ********************************************************************** BR: My concern is the movement of the market regardless of what moves it... This time the FED moved it... Next time the effect of the lower interest rates on improving earnings growth will move it... So, I invest in the direction of the trend... "Don't fight the tape and don't fight the FED" is as true today as it ever was... Everything you say about the poor economic conditions of the global markets is true... Bottoms are made in this type of an environment... History has shown time and time again that Bull moves usually come from out of the blue when all are expecting the end of the world... Another FED cut in November should really send the markets soaring... I'm not an analyst for anyone buy my own investing... I learned a long time ago to rely on my own research and instincts... Jim