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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Lee who wrote (56739)	10/30/1998 1:47:00 PM
From: Stephen	Respond to of 58727

Lee, thanks for the info. Not clear what you are implying by posting it in reply to my point of ' I believe the rate cut was due to an imminent disaster that has been avoided etc ...' though. Are you saying he did it purely in response to a general liquidity problem ??. If so, I still disagee. The way and speed with which it was handled plus the fact he mandated it and just informed the other members is a scenario that sounds to me that the Fed was contacted by a major financial house that was about to blow-up. The discount rate cut also suggests this to me as it was probably someone who was/may still be borrowing money from them as 'lenders of last resort' . As for AG, he is famed for keeping investors off-balance. He initially let everyone know a rate cut was coming .... then did the minimum which didn't provide any kind of support. He then did a more substantial cut when no-one was expecting it prior to options expiration, burning a lot of people .... and if we knew what was going to happen next ... there wouldn't be this discussion !!. He's gone from a tightening stance (when everyone thought he should be neutral) to neutral (when everyone thought he should easing) to ...... where are we now .....??? anyone know if he is neutral, in ease mode .... or ..... no ... I he can't be ........ He's got a difficult job ..... but I still think he believes that he has to keep people on their toes as regards to his actions. JMHO Regards Stephen