Re: [CANSLIM] Market -- Greenspan testimony

From: Simon Yang <yang558899@yahoo.com>
Subject: Re: [CANSLIM] Market -- Greenspan testimony
Date: Wed, 17 Apr 2002 15:22:20 -0700 (PDT)

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Good work.
but I do not pay so much attention to his speech or
wordings. The markets is pretty smart to discount such
expectations. Charts of markets and stocks tell more
than his speech.

simoninvestments.net
Simon

- --- Mona Guarino <webmaster@design21.com> wrote:
> Testimony of Chairman Alan Greenspan
> Monetary policy and the economic outlook
> Before the Joint Economic Committee, U.S. Congress
> April 17, 2002
> 
> can be found at:
> 
>
www.federalreserve.gov/BoardDocs/Testimony/2002/20020417/
> 
> Interesting to me that he:
>  -- said little has changed from the Mar FOMC
> meeting
>  -- weighed in on homebuilders indicating it's NOT a
> speculative bubble
>  -- sees no reason with current level of inflation
> to do anything until
> there is solid recovery underway
>  -- thinks Japan IS now turning around
>  -- taked about the recovery as being like a 2-phase
> rocket where
> inventories being reduced and then repleneshed being
> the 1st phase and
> hiring being the second; now need to change monetary
> policy until after 2nd
> phase has fired
> 
> So, sound like no rate hike at the next meeting and
> that we are further in
> the pre-recovery phase than when last he spoke.
> 
> By Greenspan-speak standards, seemed more
> straight-foward than usual.
> Anyway, this is my take on what I heard. Interested
> to hear anyone else's
> thoughts.
> 
> -- Mona
> 
> 
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