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Strategies & Market Trends : gem-x's incredibly accurate Elliott Wave forecasts.
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To: eichler who wrote (994)8/27/2001 2:19:36 PM
From: thestockrider  Read Replies (1) of 2290
 
Eichler, i read some stuff about Fed manipulating markets through GS, Fleet, MER, and others too. The article I read, probably somewhere from the Gold Monitor thread, said they use TA to decide when to act, which is why TA works -- until it doesn't. Same with EW, it works until it doesn't. But if it works enough of the time, then many will follow it successfully. I think it's important to step back from the wave counts and look at the broader pictures of money flows. The manipulation can only go so far against the money flows. 401K/Mutual Fund and foreign investment money flows dictate which way the indices will go in the intermediate term. Significant fed open market operations seems to affect the direction of the market from 0 days to 5 days out. The markets may go up or stay flat for a month, but if the money continues to flow out, then in 3 months time the indices will be lower.

I thought it was real interesting the way VXN rose at the last options expiration date at a NDX low. Doom and gloom were everywhere. So I wrote puts like I thought the big houses would do. To make money all that's needed is for VIX to decline or the market to rise. I'm looking for this move to go to the top of the $compx weekly channel. It won't be able to rise above it significantly IMO because J6P tech redemptions increase at the top of the channel. At the previous channel top, the sentiment on SI was very bullish.

-thestockrider
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