wndysrf Posted August 21, 2003 Report Share Posted August 21, 2003 Today may have marked an all time peak in Expectations Management Hysteria engineered by The Matrix. As usual, Craig Barrett at INTC was dragged out in the dark of night to reverse his "no increase in IT spending" comments from last month and change it to "we are now buying PC's, so will everyone else, etc." Oh, wait. Change that again. CEO Craig Barrett told a Dow Jones newswire in Taipei this morning that "he's not prepared to declare a recovery, but is seeing some corporate PC buying"... That fact, along with a Lehman Brothers upgrade of the European Semiconductor and Semiconductor Chip Equipment sectors to Positive from Neutral, has played a role in tech's strong showing... So there you have it. Dan Niles has officially upgraded the SOX after it is up 60% from the lows. That immediately put a bid in the dollar and stock index futures, causing a huge jam job in the PreMarket. Once again, the utterances of a single tech company's CEO immediately increased billions of global stock market capitalization in an instant. Where else would you find speculators leveraged 100:1, their trade books hinged upon a few words mumbled by one of the Matrix Operators? Wildly confusing economic data points hit the tape in the morning, causing unusual volatility everywhere. As if starter pistols suddenly went off before the greyhounds were in the starting cages. As a result, the currency, gold, and T-Bone greyhounds were suddenly bolting this way and that, causing even more damage to the highly geared Promise Ticket Portfolios. Energy futures were running amok, with unleaded gas sprinting to the upside. Team Al Green clearly realized that their constant "Expectations Management" bullhorning is causing too much volatility, so the following statement was issued: Fed's Poole says FOMC statement often misleading by Rex Nutting WASHINGTON (CBS.MW) -- Too often, the Federal Reserve confuses markets when it's trying to explain its policies, said William Poole, president of the St. Louis Federal Reserve Bank. In a speech in Philadelphia on Thursday, Poole said the Federal Open Market Committee should try to explain its actions and its probable response to new information, but should avoid language that suggests the central bank knows what it will do next. "FOMC language forecasting future policy actions is probably counterproductive," he said. Poole said more work is needed to improve Fed communications with the markets, but he rejected any hard and fast policy rule as being too inflexible. Now the Fed is telling the Arena Particpants to take all future prognostications with a grain of salt, and that anything can change at a moment's notice. Note the severe backup in short term rates. What does Al do now? Raise rates? Oh, the Horror....... Link to comment Share on other sites More sharing options...
mjkst27 Posted August 21, 2003 Report Share Posted August 21, 2003 WASHINGTON (CBS.MW) -- Too often, the Federal Reserve confuses markets when it's trying to explain its policies, said William Poole, president of the St. Louis Federal Reserve Bank. In a speech in Philadelphia on Thursday, Poole said the Federal Open Market Committee should try to explain its actions and its probable response to new information, but should avoid language that suggests the central bank knows what it will do next. "FOMC language forecasting future policy actions is probably counterproductive," he said. Poole said more work is needed to improve Fed communications with the markets, but he rejected any hard and fast policy rule as being too inflexible. I'd rank this right up there with the latest policy bias statement from the FOMC that I derided as "retarded". The premises that lie behind this statement are 100% pure central planning. Welcome to Amerika. Edit....great opener Wyndy, you're in peak form! Link to comment Share on other sites More sharing options...
machinehead Posted August 21, 2003 Report Share Posted August 21, 2003 Too often, the Federal Reserve confuses markets when it's trying to explain its policies, said William Poole, president of the St. Louis Federal Reserve Bank Yeah. They should ditch all the phony economic rationales, and just say it in plain words: The targets are Dow 10K and Nasdaq 2K. That's what "priming the pump" means in today's world. Link to comment Share on other sites More sharing options...
The End Posted August 21, 2003 Report Share Posted August 21, 2003 I ordered ten of these for the NYCASS meeting.(it will also read, at the top"we don't know" and at the bottom "...and neither do they") They will be raffled off. No charge for the raffle. Although buying a beer might help your odds of winning :wink2: Doc, I have a link to the site that makes these. i hope I did not piss you off with this. I hope you think it was a good idea and add it to your gifts. Link to comment Share on other sites More sharing options...
Farmer Posted August 21, 2003 Report Share Posted August 21, 2003 Could someone recommend a good set of darts. I already have the monkey and the Fininancial Times. Link to comment Share on other sites More sharing options...
Hiding Bear Posted August 21, 2003 Report Share Posted August 21, 2003 CEO Craig Barrett told a Dow Jones newswire in Taipei this morning that "he's not prepared to declare a recovery, but is seeing some corporate PC buying"... Later he said: Mr. Barrett noted Thursday that signs of spotty demand didn't add up to a full recovery in PC sales to the corporate sector. "I've taken the very conservative attitude that after the recovery occurs, I will proclaim it." So there it is. After there is a recovery, they will let us know. Meanwhile stay tuned for more insightful matrix proclamations. And buy the SOX. Link to comment Share on other sites More sharing options...
The End Posted August 21, 2003 Report Share Posted August 21, 2003 Could someone recommend a good set of darts. I already have the monkey and the Fininancial Times. hammerheads. Link to comment Share on other sites More sharing options...
Stoolander Posted August 21, 2003 Report Share Posted August 21, 2003 Could someone recommend a good set of darts. I already have the monkey and the Fininancial Times. Good one Farmer, my first belly laugh of the day! Link to comment Share on other sites More sharing options...
Farmer Posted August 21, 2003 Report Share Posted August 21, 2003 Why thanks TE, now all I have to figure out is, how far to place the Times away so as to consistantly hit stocks that will give me 10 to 15 percent profit. Link to comment Share on other sites More sharing options...
Stoolander Posted August 21, 2003 Report Share Posted August 21, 2003 Does it strike anyone else as strange that by buying PCs for his organization, INTC Barrett is buying his own product to boost sales? This would be like Ford saying: "We are purchasing new cars for all employees so that they can get to work more efficiently. We see an uptick in the demand for cars which should bolster our bottom line. We think that other organizations should consider new Ford vehicles as well." Link to comment Share on other sites More sharing options...
Hiding Bear Posted August 21, 2003 Report Share Posted August 21, 2003 Does it strike anyone else as strange that by buying PCs for his organization, INTC Barrett is buying his own product to boost sales? This would be like Ford saying: "We are purchasing new cars for all employees so that they can get to work more efficiently. We see an uptick in the demand for cars which should bolster our bottom line. We think that other arganization should consider new Ford vehicles as well." Strange that the only positive thing he could say was he was "buying and upgrading" company computers. Not that he will have to buy many after upgrading. Strange??? Link to comment Share on other sites More sharing options...
crooked_analyst Posted August 21, 2003 Report Share Posted August 21, 2003 He's probably the prick that started the Virus...how many will just go out and get a new computer rather than futzing with the one they've got? Link to comment Share on other sites More sharing options...
Guest Posted August 21, 2003 Report Share Posted August 21, 2003 I'm still very bearish. With all that was in the news today the Dow should have been up 175-200, Nasty up 50 and S&Pee up 30. Looks pretty toppy to me. Link to comment Share on other sites More sharing options...
Madame Wrecked Him Posted August 21, 2003 Report Share Posted August 21, 2003 Yeah. They should ditch all the phony economic rationales, and just say it in plain words: The targets are Dow 10K and Nasdaq 2K. That's what "priming the pump" means in today's world. They could start by replacing an unwelcome substantial fall in inflation exceeds that of a pickup in inflation with plainspeak. If an unwelcome substantial fall in inflation = the Dreaded Deflation, why not say so. After all, everybody else is saying it. Link to comment Share on other sites More sharing options...
DrStool Posted August 21, 2003 Report Share Posted August 21, 2003 End- Nice. Should be a small s in Capitalstool. It's ok to produce them for the meeting. However, the website that produces them will need to get a license from me for any further use. Any commercial use of the term Capitalstool.com, its slogans, unique terminology, and illustrations is prohibited without the express written consent of Dr. Stool, the New York Yankees and the Madison Square Garden Network Inc. Uncle Buck and the Long Bong Hit, including short and long term updated charts and price targets, is now loaded. Yields are high, but Uncle Buck is feelin' low.? Take a subscribatory and get the latest whiff of the of the Long Bong Hit and Uncle Buck in the Anals RIGHT NOW! Your Closing Anals Intraday are now posted. Take a subscribatory, open it and download it RIGHT NOW, along with everything else in your Anals!? Link to comment Share on other sites More sharing options...
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