After a hearty Thanksgiving feast I am sure we are all familiar with that feeling. We loosen the belt a notch or two as we look at that lonely piece of pie and decide to give it a warm home rather then sending it off to Siberia.The Dow and the NASD are in similar straits. They have risen quite nicely and should have been satiated but with the news on Friday ate that extra piece of pie.The tummy ache that usually accompanies these types of activities can be quite serious, as are the remedies. Dr. Greenspan and his cohorts will once again be meeting this month to decide the fate of the economy. I do not expect them to perform any remedial activity just yet as Y2K is at hand. It is difficult to increase interest rates and increase money supply at the same time, so they won't even try. But come next year - they may not even wait until February to hike. By January 14th, they may raise rates a 1/4 point, then again at their next meeting. The Economy is a runaway train and the rising Equity Markets are the Heavy foot on the pedal. The passengers on board are enjoying the ride, as the scenery zips by they don't realize there are no breaks.
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