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To: B.REVERE who wrote (56571)10/28/1998 12:21:00 PM
From: LeeRead Replies (2) of 58727
 
BR,..Re: the northern turn of indicators was not based in fundamentals. It was a fed driven manipulation of the futures that have turned markets around,

Would you mind explaining to me how the Fed manipulated the Futures market? The mechanics of the manipulation? We know the Fed has been adding liquidity for awhile and we know they eased rates to offset decreased liquidity, especially in the corporate bond market but when you say 'futures' are you referring to the S&P or treasury or currency markets?

Also, re:The 7400 dow was saved by the FED!,no one else and certainly not market sentiment or economic conditions.

What is your evaluation of current economic conditions? Durable goods orders today say that business is not evaporating. NAPM is flat, not falling, and selected earnings this quarter have been good.
Could probably dig up more published data on economic numbers if more evidence is required.

dismal.com 
dismal.com 

Regards,

Lee



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