Ok - here's what they said yesterday.

We don't think interest rates will go up. That's why the stock market goes up over 100 pts.

Today--no rate increase--but this strange word--"bias"

and it drops 200 pts. in 40 min.

I've got my running shoes on and am ready to run to the bank to get my $500.00 greenbacks out

-- Dave Butts (dciinc@aol.com), October 05, 1999

Answers

If you figure it out and you can turn that $500 into millions.

-- Bill (bill@tinfoil.com), October 05, 1999.

The market is testing 10,000. Once it dips below the next test will be 9500. Stay tune

-- goldbugged (goldbugged@idontthinkso.com), October 05, 1999.

"Bias" = a possible FED tightening. Two ex-FED governors said "The lights will stay on in Times Square during the rollover." There will be a gold "fire sale."

DISCLAIMER: I own no stock or gold.

-- (DowGuy@wallstreet.com), October 05, 1999.

Make sence of this..

(Reuters) - Wall Street shed its gains Tuesday afternoon when the Federal Reserve monetary policy committee said it will not raise interest rates but was leaning toward one in the future.

The Dow Jones industrial average was down 54 points, or 0.53 percent, at 10,346. Minutes before the decision, the Dow was up more than 100 at session highs.

The Nasdaq composite index was down 6 points, or 0.22 percent, to 2,789. The 30-year U.S. Treasury bond was down 29/32 with a yield of 6.15 percent, compared with 6.09 percent Monday.

``The tightening bias doesn't do a lot to clear the air of uncertainty ahead. While interest rates stay the same, the anxiety level appears to increase,'' said Alan Ackerman, the senior vice president and market strategist at Fahnestock and Co.

``They're putting the market on notice that there is a possibility of further tightening. What they're really doing is giving themselves the opportunity to go back to a neutral bias in case there is more concern as we get closer to Y2K,'' said Peter Landini, chief equity strategist at the San Francisco-based Fremont Funds. ``Y2K is really the wild card right now, how the market perceives it.''

The Federal Reserve's policy-setting group, the Federal Open Market Committee issued a statement that read, in part: ``the Federal Open Market Committee will need to be especially alert in the months ahead to the potential for costs to increase significantly in excess of productivity in a manner that could contribute to inflation pressures and undermine the impressive performance of the economy.''

The two remaining FOMC meetings this year are scheduled for Nov. 16 an Dec. 21.

But the bias does not mean the Fed will raise rates in November either, said Alfred Goldman, technical analyst at A.G. Edwards and Sons in St. Louis. ``This is a buying opportunity. The market is oversold, we've had a 5 month correction. We will now focus in earnings and value created because of the correction.'' Reut14:49 10- 05-99

-- y2k dave (xsdaa111@hotmail.com), October 05, 1999.

A sign of things to come???

(Reuters) - A major U.S. economic forecasting gauge fell in August for the first time in four months, fueled by slow vendor deliveries and falling stock prices, a private research group said Tuesday. The Conference Board said the widely-watched Index of Leading Economic Indicators, a measure of future economic activity, fell 0.1 percent in August, the first drop since a matching decline in April, after unrevised 0.3 percent gains each month May to July.

-- y2k dave (xsdaa111@hotmail.com), October 05, 1999.

When looking at the Dow graph today---it looks like they piloted that boat right into dry dock. up------> .065 lol

-- David Butts (dciinc@aol.com), October 05, 1999.

The stock market is going through the weird and wild gyrations that often precede a major market attitude change. It's been bullish for years and the bear is on the move. Look for further ups and downs until a major selloff occurs, probably sometime in the next few weeks.

-- cody (cody@y2ksurvive.com), October 05, 1999.

When I used to do avalanche (on ski patrol), we learned to stay out of unstable snow on high angle slopes. The same thing seems to apply with today's stock market...

-- Mad Monk (madmonk@hawaiian.net), October 05, 1999.