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Only because someone ( a student) on this forum calls Alfred Greenspan all
kinds of names it does make me wonder where the writer comes from. Pretty
tough to criticize a 73 year old guy who has some pretty hefty credentials
with years of experience in economics.. And a record that is pretty tough to
beat doing the tough job that all benchmarks of opinion refer to as being
superlative.
I thought things were pretty good in this country right now. I'm old
enough to remember when they were not (in the '30's). The writer referred
to says he is a student. Could he do a better job than Mr . Greenspan? I
seriously doubt it. I do not have to defend Mr. Greenspan nor do I agree
with everything he is doing. Like a lot if us. But I know he is doing the
best job that he knows how to for the country and its people.
Howard Berg
-----Original Message-----
From: James Taylor <jptaylor@xxxxxxxxxxxxxxx>
To: RAY RAFFURTY <rrraff@xxxxxxxx>; Real Traders <realtraders@xxxxxxxxxxxxx>
Cc: Real Traders <realtraders@xxxxxxxxxxxx>
Date: Tuesday, October 05, 1999 11:28 AM
Subject: Re: Fw: FOMC meeting?
>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
>>> > > >
>>> > > >
>>> > > >
>>> >
>>> >
>>> >
>>> >
>>>
>>
>>
>>
>
>
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