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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: ajtj99 who wrote (34658)4/23/2002 1:26:37 PM
From: Paul Shread  Read Replies (6) of 52237
 
Here's an email I just got on the Dow futures; we may have a bear raid going on here:

"The futures have been fluctuating between plus and minus relative to the spot during the morning, something not often seen. Even when the spread is below fair value, it is usually positive even during severe declines.

"I know that some of the foreign hedge funds have math similar to ours as to an average cost on the futures which, we think, are about 2% underwater. Given the poor corporate numbers and the importance of 10,000 on the Dow, some of them might be trying to 'break the bank.'

"The hedge funds will probably try this tact for the rest of the week, as it might be, from their point of view, a last chance to make money on the downside for a while."
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