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Strategies & Market Trends : The Options Box
QQQ 625.48+0.4%Dec 5 4:00 PM EST

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To: Poet who wrote (10065)3/14/2001 11:35:20 AM
From: dli  Read Replies (1) of 10876
 
Poet,

I've been pretty busy lately so I haven't had time to check in for some time. I hope you and the remaining thread regulars are doing well in their trading. It's definitely whacky out there.

I believe the action this morning is a perfect showing of moral hazard at work encouraged by AG himself. Everybody and their mother bought the opening thinking that AG will bail us out of any systemic failures that may be looming. It's kind of telling that we haven't had a capitulation in the market ever since AG instituted the Greenspan put when he bailed out LTCM in 1998. The question now is if this move has any staying power or turns out to be a major headfake. Being in cash at the end of every trading day I'm glad I don't have to worry about it.

Dave
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