|
PureBytes Links
Trading Reference Links
|
Harley
Looks like the market thinks they're going to get one. Comments are that if
it doesn't appear by next Tuesday, look for a 300+ pt. day to the downside.
My charts showed the bias to the upside, but I don't see the funnymentals
supporting much of a move up. I'm not sure what a rate cut gets us with the
problems around the globe. There's already not enough demand for borrowing,
Additionally, with all the problems in Asia, Russia, Central & South
America, there needs to be a turn around there first. I'm waiting to see
what happens in Japan. Still think we're in that trading range we've
discussed before.
Regards
Guy
> -----Original Message-----
> From: owner-metastock@xxxxxxxxxxxxx
> [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Harley Meyer
> Sent: Wednesday, September 23, 1998 7:49 AM
> To: metastock@xxxxxxxxxxxxx
> Cc: EMail Fasttrack
> Subject: Re: Greenspeak
>
>
> I agree that there are expectations of a rate cut.. I don't see it coming.
> I have been seeing headlines lately of Fed activity like this article:
> http://biz.yahoo.com/rf/980923/nv.html
>
> I am wondering if they are doing their best to provide as much liquidity
> to the banking system with out lowering rates yet. Also Greenspan has been
> very consistent with how he tips his hand with respect to rate hikes, cuts
> and leaving rates unchanged. He has not showed any signs as far as I can
> see that deviate from the current stance of a neutral fed bias. Lastly I
> would say that Greenspan will be talking about the current world economic
> conditions. Which I think might scare a few more investors who have not
> believed that the world economy was really in a crisis.
>
> Harley
>
> Bill Saxon wrote:
>
> > Apparently the market thinks Greenspan will weasel around and innuendo
> > a rate cut in the near future when he speaks to Congress today. My
> > experience is that the market usually goes down when he opens his
> > mouth. I think today will be no exception. All of the major Indices
> > are at or near heavy overhead resistance. It seems the odds favor a
> > bounce off and another leg down (# 5?). Any comments?
>
>
>
|