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To: B.REVERE who wrote (56584)	10/28/1998 2:38:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

BR, >>>>>>>> Jim, agree on the forecasted rate cut coming next month. However, I do not believe that this cut isn't already priced into the market. If he doesn't cut, looks bad. If he does, it's ho-hum. <<<<<< Subjectively, I agree that the rate cut is priced into the market with the DOW in the 8400-8600 range. If we get back to 8000-8200 range before the FOMC meeting, I do not think the rate cut is priced into the market. Im not sure about the 8200-8400 range. If I am correct, for the short-term, I think that the NOV rate cut is good for 300-400 points depending on where the DOW is at the time. So if the DOW is around 8000-8200 and they cut rates, I expect a quick pop back up to the mid 8000's. If the DOW is in the mid-8000's a rate cut may push it up a little, or there may be a selloff on the news. seeya