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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 690.270.0%Dec 26 4:00 PM EST
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To: Johnny Canuck who wrote (35999)1/25/2002 2:35:15 PM
From: Johnny Canuck  Read Replies (1) of 69260
 
[madtrader]
Fri Jan 25, 9:49am PST Enron
Market
Wire report saying ex-Enron vice-chair killed himself this morning. This has finally come to a real tragedy, and I believe the press will probably back off a bit if they have any ethics left. Even during the Clinton affair no one had to pay the ultimate price. What we have had in the past month was the kind of the story the press prayed for. As they have always done, they wanted to play it to the maximum, with all angles. When the flow of stories slows down a bit, and it no longer dominates the front page headlines, I think the Street will finally get their focus back as well. The Enron story has been the primary cause (I know some of you will disagree) with the recent selloff due to the issues it raise, mainly confidence in the system. I don't think these issues will be all resolved overnight, and for many small investors, it will be a long time before the memory fades. But it will certainly be dealt with less drama. From a trading perspective, I would have to say the mood of the Street will be back to the bull camp as well. I am sympathetic to the families that are involved in this tragedy, but as a trader, I hate to sound cold, this is a positive development. none
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