Today's Stock Market Swoon

Apsken at Apsken at
Fri Apr 14 16:30:22 PDT 2000

As wonderful as it might be to see the greedy speculators get their comeuppance, I'm surprised that the news reports have accused inflation, consumer confidence, interest rates, and other demons, but not the most obvious culprit.

Monday is tax day. A lot of winners at the Wall Street casino owe a bundle on their capital gains, and are probably cashing some chips to pay their taxes. If that is the primary cause of the dip, it will be interesting to see whether the bearish media spin becomes infectious.

Ken Lawrence

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