Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: pater tenebrarum who wrote (123934)	9/19/2001 5:49:32 PM
From: patron_anejo_por_favor	Read Replies (1) of 436258

<<the rebound was btw. effected by "organized support" in the futures markets.>> Yep. You could see it on the tape, the NDX and SPX Eminis were flying and dragging up everything else. Pissanti said on BubbleVision after the close that an "unnamed hedge fund was buying large volumes of SPX futures"...well, no $hit, Sherlock! Hard to jam the Dow 200 points in 10 minutes any other way.... Although I think we may have hit some kind of tradeable bottom, make no mistake...we are a Loooooong way from the ultimate bottom in both time and price. All kinds of restructuring, recognition of bad debts by banks, foreclosures and bankruptcies (personal, corporate and perhaps even municipal) will need to occur before we're ready for the cure to take. The longer the market is propped, the longer it's gonna take and the lower we go before we're done.

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