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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: vampire who wrote (5304)11/13/2001 7:32:02 PM
From: ajtj99  Read Replies (1) of 99280
 
Metsin, we were at an important point where the bulls and bears were pretty equally divided, and many bears were starting to defect like Afghans to the bull side. The timing was right to juice the futures after the taking of Kabul. We gapped up at open 31-points, and followed through with only an additional 21 points to close. It is hard to say that we would have gone that high without the 31-point head start.

That's the power of PPT. By buying thinly traded futures early, they can spook a ton of people into buying or covering short positions, or initiating long positions upon a breach of an important resistance point. There are also the fence sitters who could be compelled to throw in the towel and buy, as there is lots of cash still on the sideline.

Anyway, I didn't believe in PPT until I read a NY Post article describing their members and their operations. The PPT attempts are a temporary fix at best, but somehow the powers feel that doing something is better than doing nothing.
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