<HTML><FONT FACE=arial,helvetica><FONT SIZE=3 FAMILY="SERIF" FACE="Times New Roman" LANG="0">In a message dated 8/13/02 5:58:09 PM Eastern Daylight Time, dhenwood@panix.com writes:<BR>
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<BLOCKQUOTE TYPE=CITE style="BORDER-LEFT: #0000ff 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px">It wouldn't surprise me if they're setting us up for a surprise - <BR>
just when people give up on a rate cut, they spring on on us. Maybe <BR>
before the meeting, if the August employment report is ugly.<BR>
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</FONT><FONT COLOR="#000000" style="BACKGROUND-COLOR: #ffffff" SIZE=3 FAMILY="SERIF" FACE="Times New Roman" LANG="0">Yeah - but, first they'd pretend it wasn't ugly enough and then they'd cut rates after more hope was lost. I've often thought Greenspan was long the market leading up to his announcements - no specific companies, just some untraceable composite instrument like S&P futures.<BR>
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Nomi</FONT></HTML>