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> Makes you wonder why they didn't just jump it 50 points right off the bat.
Simple: As the market would NEVER be as high as it is now - EVERBODY was
expecting/DEMANDING "50" at the time - the FED & Greenspan showed that
they are INDEPENDENT and taught the "market" a lesson last week - and I
conclude: WELL DONE - clap clap clap !!!
So with raising the same 50 but in steps they got more "bang for the buck" <g>
Ive been learning "Central banks action-expectations " the hard way from the
BUNDESBANK in the currency markets in last 10+ years, I know one
thing for sure "Expect the Unexpected"! In other words: The Bundesbank
ALLWAYS tried outmost to be NOT forecasted - they still succeed these
days :-))
> A side question: Are the stops at
> whatever price executed in the same order as they were entered?
No, open outcry markets dont care who was first by entering the order - in
contrast ELECTRONIC markets like DTB (eurex) give preference to first come,
first serve - which I think is just fair.
However MATIF plans/does/wants to give preference to the SIZE of the order -
as we know HERE, french are a bit different sometimes :-))
rgds hans
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