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The markets are a very effective discounting mechanism and certainly
have factored in a 0.5% rate increase, in fact the fed funds futures are
indicating further increases totaling 0.5% by Jan01. I do however
believe that exuberant investors have not adequately discounted the
overall effect of 2% in rate increases through May and 2.5% through
Jan01. I think we will continue to see very choppy sideways to down
equity markets until there is evidence of interest rate decreases. NYSE
model is on sell, NASDAQ model is near sell, and SP is likely to break
the TL support I mentioned in a previous post.
Earl
----- Original Message -----
From: "JW" <jw@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, May 10, 2000 4:28 AM
Subject: [RT] RE: MKT: Nasdaq Comp.
> You know, so many seem to be expecting the world to fall apart when AG
raises rates .5%
> that maybe it won't happen? I've heard a lot of talk that the
increase is already
> built-in and that AG might not continue to raise rates given that this
is a presidential
> election year. Maybe he will wait a while and see how the economic
numbers play out? Or
> maybe there will only be a 1/4% increase. Maybe we'll actually have a
major rally.
> Wouldn't be surprised.
>
> JW
>
>
> -----Original Message-----
> From: listmanager@xxxxxxxxxxxxxxx
[mailto:listmanager@xxxxxxxxxxxxxxx]On
> Behalf Of Joe Frabosilio
> Sent: Tuesday, May 09, 2000 9:55 PM
> To: wavetraders@xxxxxxxxxxx
> Subject: [RT] MKT: Nasdaq Comp.
>
>
>
>
> Hi Everyone,
>
> After tomorrow, the lineing up of the planets should be done. If
> history is to repeat itself, then watch out below. For the past two
> days I've watched molasses move faster than Nasdaq stocks, very
boring.
> I leave for two hours and the price hasn't really moved on a lot of
> stocks I was watching.
>
> I think the Nasdaq should get a short bounce off of the 3438 line,
> then possibly break out to the bottom of 2566. Yes, that Low.
>
> Lets see what happens,
>
> Joe Frabosilio
>
>
>
>
>
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