Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

It should be obvious that the PPT will not take the markets straight up. The strategy needs to have some profit taking in it for it to work. The feds goal is to support the economy. By supporting the US economy you support the world economy that has become so dependent on it. Artificial support can only go so far. It is apparent to me that the Fed must do what it can to insure a healthy Christmas shopping season if they want any momentum to continue into 2003. Our wealth has become our stock market. Everyone looks to it for the economic health of our nation. Never more than it does now. Stocks go up and folks feel wealthy and spend. We saw the work of the PPT last year and we are seeing it now. Unfortunately the Fed has limitations and I would imagine that when they back off we will see the sell-off. I don't see that many signs of institutional buying to keep it going. JMO.

Joe