|
PureBytes Links
Trading Reference Links
|
Scheier: Perhaps Mr. Greenspan simply forgot your phone number. How rude
of him. :-)
Regards, Jack.
----- Original Message -----
From: "Mark Brown" <markbrown@markbrown.com>
To: "scheier" <scheier@erols.com>
Cc: "Omega Users List" <omega-list@eskimo.com>
Sent: Wednesday, January 03, 2001 12:46 PM
Subject: Re: the Fed
> Hello scheier,
>
> what you don't understand is that the market told you what would
> happen BEFORE IT HAPPENED you were just not listening..
>
> s> I'm very lucky to be able to say I wasn't short the emini
> s> nasdaq when this Fed announcement came out, but that was
> s> by pure luck, as I was short twice on the way down for
> s> moderate profits in what I thought was a normal day. In my
> s> opinion, there is no excuse for the Fed to treat the market
> s> and its participants in different manner for potentially bullish
> s> news as it does for bearish. The right way for the Fed to behave
> s> for such dramatic reversals of policy is giving small hints. This
> s> intentional surprise treats such participants like market makers,
> s> floor speculators, and specialists--who by nature must take short
> s> positions as part of their daily role-- as if they were second class.
>
> s> I have previously held Mr. Greenspan in fairly high regard, but
> s> must reconsider my opinion. This is an example of the Fed
> s> playing god. That's not its role. It's role is to tweak. It's
manner
> s> should be humble. In this action, it places itself above the private
> s> sector as if the corporate world of equity ownership were subservient
> s> to the Fed's control. This is the ultimate disrespect. Some have
> s> said they thought Mr. Greenspan should have gone some months ago
> s> because of his lagging actions to leading indicators of a lagging
> s> economy. I say he was doing exactly what he should have been
> s> doing at that time. Now I find myself on the opposite side of
> s> their opinions again. As they love him for his actions today, I
> s> despise him for the thoughtless and even arrogant way in which
> s> he has superseded his role.
>
> s> Scheier
>
>
>
> --
> Best regards,
> Mark Brown mailto:markbrown@markbrown.com
> Y = Offset + Amplitude * sin(Frequency * X)
>
>
>
>
|