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Strategies & Market Trends : Classic TA Workplace

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To: UnBelievable who wrote (36058)	4/11/2002 8:02:11 AM
From: Hawkmoon	Read Replies (2) of 209892

The timing of this major market manipulation should be investigated by Congress. On the first day following a breakdown in the market indices, our government chose to push big money into equities to avert a market collapse. Well, that might be a tough case to make. After all, if I understand the government pension program correctly such as the TSP, it is the participants who choose what fund they wish to participate in. Thus, managers have to allocate funds appropriately to reflect the diversification desired by them. But activities of the "plunge protection team" might be worth some scrutiny. However, we have Japan ACTIVELY buying the Nikkei stocks, claiming they are assisting the divestment of corporate cross-holdings, so globally we're seeing a trend to government intervention into markets, which is not a preferable solution to market jitters. I'm far more worried when the government starts using taxpayer money to support markets than instances of "timing" with regard to investment decisions using pension funds. Hawk

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