Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

Come on, Market Watcher, there are maybe 3 to 5 people on the thread that hold the theory of frequent Fed intervention in the markets, out of about, 1300 that have bookmarked this thread and probably some 100 plus relatively active posters. That is not that much. Following the liquidity (through repos), is actually healthy, even though, on a short term basis, the predictive value is non important, presence of such liquidity is on important drive in rising prices. Actually in recent month the rate of growth of MZM has slowed down, t it is another parameter that should show as a negative amongst all the various factors involved in the market. However, that "parameter", is a a slow process, for about a year prior to the February 2000 peak, we also had contraction in M3 rate of growth, but it took some time, and the soaking action of treasury through an excessive budget surplus to bring the market down.