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Politics : Stockman Scott's Political Debate Porch

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To: Gary Walker who wrote (7439)9/27/2002 2:29:09 PM
From: Jim Willie CB  Read Replies (1) of 89467
 
JPM stuck at Sinclair Magic number 18.5
they did not participate in Wedday or Thursday's drivel rally
I use "drivel" from Puplava reference
Wedday saw a rally when Genl Electric announced likelihood of making the 10% earnings growth numbers
then today after analysts downgrade GE earnings estimates

poor JPMorgo goes down when S&P goes down
but doesnt rise when S&P rises

stuck below the Mendoza Line at 18.5
I smell derivative liquidation coming soon
Sinclair claims that back2back days of JPM at or below 18.5 and capital requirement insufficiencies will trigger gradual derivative liquidations
as liquidated contracts unravel, further losses ensue
thus forcing even more liquidations

this is how Enron died

/ jim
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