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Strategies & Market Trends : Sharck Soup

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To: besttrader who wrote (17687)	4/20/2001 11:47:22 PM
From: Devin123	of 37746

Knight, I agree that next earnings season will most likely be worse than current as full "recession" effects begin to show up. As I posted earlier, some companies are able to show on their books this quarter that they are doing "good-to-so/so", but that's because they had been closing deals setup in the last 2-3 months. One of the folks I know and some of the CEOs on t.v. have been saying it's been hard to get people to ink deals right now. I remain cautiously pessimistic. But I tell you, it is more fun making money on the long side as opposed to shorting. It feels better. I would have to agree with one of A.S.'s last posts where he said Al Greenspan dropped rates to squash shorters. In a cynical sort of way, I believe that. Larger companies were already starting to come out and say we were beginning to see a bottom in effect. The market was recovering. And then he did that and put turbo drive into effect. I think that scared a lot of newbie shorts out of the short-scene and probably hurt them just as much as last March's collapse from the long side. And now if the market pulls back more, I think his move will have caused more damage than good as more people are TOTALLY scared of the market with its wild swings and everyone on t.v. contradicting the other. And here's an even more cynical vision. What if there were some huge put options that had they gone through would've bombed the likes of Goldman Sachs??? I had heard mention of that on CNBC and Sachs totally denied it, but what if... If a company like Sachs took such a large hit and it shook the financial markets, I can see that upsetting the feds. So if an insider at GS talked to Uncle Al and told him the situation, he just might agree to "bail them out." Who knows what to believe anymore. It's all psychotic and cash is king. I am trying to go to 100% cash at the end of everyday now. The market has turned me completely into a "daytrader." The exact opposite of what they say not to do. Oh well.

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