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Not at all nervous. Fed rate cuts only effect short term borrowing.
The only thing propping up the economy (and thus the market) is consumer
spending and a strong housing market. Once we've all lost our jobs,
spending will stop and you can say goodbye to the last vestige of
our percecived prosperity.
If stocks are bid up I suspect it will be a fake out to sell into.
But what do I know, I'm just a trader.
-- John
-----Original Message-----
From: Howard Hopkins [mailto:hehohop@xxxxxxxxxxx]
Sent: Wednesday, August 01, 2001 12:24 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] S & P
It seems to me that 'they' are bidding the market up in mornings on all this
bad economic news... maybe hoping for the fed to step in with a surprise
rate cut. By noon or one they give up.
Is anyone else besides me a little nervous about shorting this market due to
possible fed intervention?
Just a thought,
Howard
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