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Last December Greenspan delivered his famous over-exuberance speech about the
condition of the market....the newsletter boys kicked into high gear making
dire predicitions for a crash by March....of course nothing happened....well
actually something did..the reverse: the market just kept chugging along much
to the chagrin of the newsletter bears...but im struck by the thought that we
all forget the Fed chairman is only human....and a powerful one at that....I
wonder how much bruising his ego took given the fact the market has
completely ignored his pronouncements...I have no way of knowing for sure if
this is true but at least this blow-off this week can eliminate this factor
predicting the fed chairman's take on market and interest rate direction..the
small investor has had its warning and Mr. Greenspan can finally say I told
you so.
Rick
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