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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

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Nov 10 4:00 PM EST

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To: John Madarasz who wrote (46568)	4/15/2000 10:03:00 PM
From: Crimson Ghost	Read Replies (1) of 99985

From another thread: PPT to the rescue? Apr I think you are right that Monday won't be the day. Michael Murphy writes the newsletter Technology Investing out of silicon valley. He was Morningstar's darling for 1999 with his picks up 157%. He claims to have close contacts within management of all the big tech companies. His hotline today was very interesting. He said other than some margin selling on Monday the sell off is over because the Fed is going to intervene Monday morning through its Plunge Protection Team. He then went on to explain that the Fed does periodically intervene in markets. He said the PPT operates out of the New York Fed and intervenes by purchasing futures on the CBOE. So there you have it. The PPT is not just the figment of the imagination of goldbugs. Here is the conventional investment community calling it by name, explaining exactly how it works and telling us to watch it in action Monday.

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