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Actually, I worked for Bill McDonough for a handful of years. He's the NY
Fed chairman these days. This has his fingerprints all over it. He is a
very close friend of several of the craftiest FX intervention
ministers...and they eventually learned that if you want bang for your
buck, wait for the trend to turn and just when the rally gets to a
territory that might be resistance, give it a kick to catch the market off
guard.
I think you will continue to see more creative use of these tactics...
Best,
Tim Morge
At 08:04 PM 4/18/01 -0400, M. Simms wrote:
>Anyone care to venture WHY the Fed cut rates in a naturally rising market ?
>Here are the options:
>
>1) they're stupid / they don't understand markets
>2) "head-in-the-sand" mentality
>3) it was a political move to bolster Bush's flagging popularity and to
>offset his weak tax reduction plan
>4) Greenspan was taking a vacation to the Bahamas and wanted to "get it out
>of the way" before he left
>5) crush the shorts/bears and "Teach em a lesson"
>6) demonstrate their "committment" to the new economy
>7) set-up the market for yet another big crater in the 3rd quarter
>
>
> > -----Original Message-----
> > From: Bilo Selhi [mailto:biloselhi@xxxxxxxxxxx]
> > Sent: Wednesday, April 18, 2001 2:27 PM
> > To: Monte C. Smith; Omega List
> > Subject: Re: EL Rate Cut System
> >
> >
> > today the system did not have to predict it. it cot it
> > because the fed lowered into rising market.
> > my system net 80% long on my 80 stocks this morning
> > combined point pullout on the first trade was over 100 points.
> > about 30% were short from yesterday and those trades got killed
> > but recovered on the morning trade.
> > sp naz dow nq system was long straight from the open...
> > ndx and nq was short overnight resulting in two lossed but
> > reclaime all back and some today.
> > here is the gif of the p$l of the current trade as of 2:15.
> > about 75% are winners and 25% are losers as usual
> > but the losers are less then half the winners...
> > combined position is about 60% long some 20% are shorts
> > the rest are flats.
> > at 2:15 the point pullout is about 50 + points.
> > the system cot the fed cut this time and actually last time
> > too.
> > the system is still long sp and in second profitable long trade
> > in naz.
> > if you do it right it will work...
> > bilo.
> > ps. i will post the gif to system only list since it's larger then
> > allowed size on this list.
> >
> > ----- Original Message -----
> > From: "Monte C. Smith" <mcs@xxxxxxxxxxx>
> > To: <omega-list@xxxxxxxxxx>
> > Sent: Wednesday, April 18, 2001 1:16 PM
> > Subject: EL Rate Cut System
> >
> >
> > >
> > > Anyone running a system written in Easy Language that predicted this
> > > rate cut? (Maybe we should just rely on cnbc)...
> > >
> > > Monte
> > >
> >
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