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Thanks Guy. I personally don't see FOMC cutting rates yet. So I hope it isn't on
Tuesday. You are right there is too much going on around the world.
Harley
Guy Tann wrote:
> 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?
> >
> >
> >
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