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To: Jon Koplik who wrote (17809)11/5/1998 9:46:00 AM
From: straight life  Respond to of 152472
 
Perhaps Ramsey implied a Greenspan head fake: a line about irrational exuberance spooks the markets; stocks and bonds fall, shorts are put on, then whammo, a rate cut! Shorts are squeezed and stocks recover to previous levels and maybe beyond...?



To: Jon Koplik who wrote (17809)11/5/1998 9:58:00 AM
From: Ramsey Su  Read Replies (1) | Respond to of 152472
 
If he does not "talk down stocks," it a favorable hint that rates will be cut soon.

Jon, if your theory is true, then it implies Greenspan does not think the market is irrationally exuberant today. Furthermore, it needs another boost from the Federal Reserve? I don't think so.

By the way, there are more buyers than sellers today and the real time quote is 56 13/16 bid 56 7/8 ask.

Ramsey