Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 53.96

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Jan 6 4:00 PM EST

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To: dvdw© who wrote (16792)	7/7/2004 3:48:09 PM
From: Chip McVickar	of 207657

dvdw, Again a very interesting post...... >>growth of hedge funds have brought the broader market to near lock up which manifests as a sideways range. Derivatives and short interest combine to leave no room for error.<< Recently read this article.... Paraphrased from WSJ: New York Community Bancorp warned on earnings July 2nd. This modest bank has been one of the most agressive interest rate players ... surrounding the yield curve. It presonified the carry trade....! On the 2nd it fessed up that it has been carried out on a stretcher. Look at it's 1st quarter leverage: 10.0 billion in total deposits 10.8 billion in total loans 12.2 billion in BARROWED FUNDS It didn't just double down on the carry trade... it Trippled Down. Hedge funds at 70% of volume is a long/short marriage.... not made in Wolanchuk Heaven... These players are mostly second string gouchos with spurs. What would you like to bet that the next presz is left holding the empty bag...!!!

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