Dave Gore's Trades That Make Sense Message Board

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Strategies & Market Trends : Dave Gore's Trades That Make Sense

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To: mishedlo who wrote (13088)	9/27/2002 9:14:10 PM
From: Dave Gore	Read Replies (1) of 16631

Mish, I actually agree with most of what you said. I knew we could agree. Just remember, the power Manipulators will feed the media any spin they want as a reason to take the Market wherever they want to take it. With 40-60% of the daily volume now controlled on many days through "buy and sell programs" (by Institutions and Hedge Funds), the "spins" are amazing. When the Feds lowered interest rates the first time, all we heard was that the Market always recovered within a year of the first cut. That was the line we were supposed to believe. Remember? All that "Spin" did was give people false hope to keep plugging their savings into Mutual Funds at a torrid pace. I remember hearing Bob Pisini on CNBC one day say that traders were all over the place today whispering all their variuos "spins" in reporters ears. I also remember an even more classic moment when Michelle-Caruso Cabrera on CNBC was talking to Art Cashin. She mentioned to Art, "What's wrong with the market, is it just Hedge Funds manipulating."? Oops! Apparently you don't say that on TV, because Art Cashin, quickly responded. "Ahhh.. we don't say the "M" word around here. We don't want to get them upset."

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