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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: J.B.C. who wrote (14820)	3/2/1999 12:18:00 PM
From: james ball	Read Replies (2) \| Respond to of 34811

Yes rates rose all year as did stocks. The key to problems in 1987 was the collapse of the Utilities early in march of that year. Rates continued to rise as did rates. They de-coupled in September with the NYSE BP reversing early Sep. Greenspan took the reins in Sep. If Im not mistaken in 1987 and wanted to show his muscle by raisiing short rates. That coupled with the long rates that were going up all year was too much for the market. There is an old saying about short rates. "Two steps and a stumble". He would have to raise short rates twice before the stumble in stocks took place. That is an old adage. Nothing is always the same. Tom