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Strategies & Market Trends : MDA - Market Direction Analysis

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Dec 16 4:00 PM EST

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To: Stephen who wrote (47796)	4/24/2000 12:39:00 AM
From: Michael Watkins	Read Replies (2) of 99985

Stephen, Once upon a time some months ago I recall having a discussion with someone on this thread about the hyping by promoters to the "bag holders". Typically anything negative said about the market or critical of the professional's role in this market attracts a bunch of market defenders. My position then, and now, is that the market exists primarily as a massive wealth transference system, with the investment banking community and insiders having the lowest risk/highest reward deal around, and the public largely caught 'holding the bag'. The defenders are getting more and more quiet... Its nice to start to see the mainstream press starting, finally, to write about the shams and collusion present in the system. For some time I've been expecting the "What Were We Thinking" specials to start airing... getting closer to that point now, I think.

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