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OM:
And with his sledge hammer style subtlety he just maybe was pointing to the
A/D line (or the A line, eh? (clever that)) which was positive on today's
early decline.
BW
>From: editorial@financier.com
>To: Omega List <omega-list@eskimo.com>
>Subject: Re: the Fed
>Date: Wed, 3 Jan 2001 14:31:50 -0500 (EST)
>
>
>I think that Mr. Brown is pointing Mr. Scheier to the treasury markets...
>They've been clearly pointing the way for some time now. And they made a
>clear statement yesterday... well in advance of today's action.
>
>OM
>
>
>
> ---- you wrote:
> > 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)
> > >
> > >
> > >
> > >
> >
>
>
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