|
PureBytes Links
Trading Reference Links
|
While I have 'zero' confidence that the Fed will do the right thing, I
think that there is a good chance that they will raise rates today. They
can always give it back in November or December if they see that the market
is taking on too much water at that time. They will be less inclined to
raise too close to the end of the year. The Nasdaq is about 2% from its
all time high, and the Dow and S&P are not that far from their highs.
Nasdaq up almost 100% since last October trading at a collective 120 times
earnings. The time is now to raise, and yes the briefcase was very thick.
Not as thick as the skull unfortunately.
----------
At 09:49 AM 10/5/99 -0400, RAY RAFFURTY wrote:
>
>----- Original Message -----
>From: RAY RAFFURTY <rrraff@xxxxxxxx>
>To: <joachim@xxxxxxxxxxxx>
>Sent: Tuesday, October 05, 1999 9:15 AM
>Subject: Re: FOMC meeting?
>
>
>> Hi John,
>>
>> The briefcase indicator says the Fed. WILL raise today. For those of you
>> who do not know how this works: On the morning of the Fed meeting CNBC
>> stakes out the entrance to the building and records the size of Chairman
>> Greenspan's briefcase. A fat bulging briefcase, especially with papers
>> sticking out, indicates a change in rates, up or down. A thin briefcase
>> indicates no change. The direction is determined by common sense.
>>
>> It works on the theory that to change rates, more information (papers) is
>> required than to keep rates the same. To date it has been very accurate
>but
>> is always subject to error.
>>
>> Good luck and good trading,
>>
>> Ray Raffurty
>>
>> ----- Original Message -----
>> From: <joachim@xxxxxxxxxxxx>
>> To: RAY RAFFURTY <rrraff@xxxxxxxx>
>> Sent: Monday, October 04, 1999 10:32 PM
>> Subject: Re: FOMC meeting?
>>
>>
>> > Ray....how about a small one liner after the Greenspan's briefcase
>> > indicator....... for those of us who are not tune into CNBC
>> >
>> > Thanks
>> >
>> > john
>> >
>> > RAY RAFFURTY wrote:
>> >
>> > > Hi Gary,
>> > >
>> > > Actually, to get a jump on the Fed. meeting tune into CNBC at about
>8:00
>> AM
>> > > EST for Mr. Greenspan's briefcase indicator. It has been correct
>> something
>> > > like 18 out of the last 19 times. {;-)
>> > >
>> > > Good luck and good
>trading,
>> > >
>> > > Ray Raffurty
>> > >
>> > > ----- Original Message -----
>> > > From: Gary Fritz <fritz@xxxxxxxx>
>> > > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxx>
>> > > Sent: Monday, October 04, 1999 4:34 PM
>> > > Subject: FOMC meeting?
>> > >
>> > > > I'm holding a long position into tomorrow and I figured I'd check...
>> > > >
>> > > > The FOMC meeting starts tommorrow morning at 0900 ET. But there is
>> > > > usually not any impact from the *start* of the meeting, right? Any
>> > > > fireworks, if any are to happen, shouldn't launch until they
>announce
>> > > > on Thursday at 1400 ET?
>> > > >
>> > > > The market doesn't seem to think Mr. G. will drop any bombs on
>> > > > Thursday, given the run-up since Friday afternoon. Anybody want to
>> > > > hazard any predictions?
>> > > >
>> > > > Thanks,
>> > > > Gary
>> > > >
>> > > >
>> > > >
>> >
>> >
>> >
>> >
>>
>
>
>
|