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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: tradermike_1999 who wrote (9095)9/14/2001 12:21:36 PM
From: Bob Duncan  Read Replies (1) of 74559
 
Tradermike,

So, we have price fixing approved by the SEC.

THis is more disturbing when one considers that all the talk that "Americans will not sell" and other such nonsense is clearly not REALLY believed by the powers that be. Hence, we have buyback "special" rules and prob. a .75 interest rate coming soon.

I am long stocks and part of me should appreciate the fact that they are going to prob up the markets for a few days, but I believe in free markets more.

Ask yourself this, is the DOW WORTH the same or more as it was at Mondays close after all this? The world is not the same, and I think allowing stock prices (even though I would on paper lose some money) to reflect the NEW reality is reasonable.

I am worried this price fixing will simply only hold up the markets briefly. Then, all the "power" of these buybacks and the rate cut will be spent, where is the power then?? Who will bail out stocks then???

Free markets. Love them or leave them. Unfortunately, some powerful people have short term leveraged positions are clearly dont want to take the loss. As always, the little guy will be left holding the back.

Then again, maybe I should just act in self interest like others here and be glad the "value" of my stocks will be propped up.
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