MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: GraceZ who wrote (15146)	12/1/2002 2:24:17 PM
From: Steve Lee	Read Replies (1) of 19219

"who are they selling to?" Good question. I think the answer lies in publicly available information. Some very large (in terms of number of employees) companies have made announcements of pension fund shortfalls and have confirmed their intentions of throwing good money after bad i.e. keeping % allocation in stocks constant with prior goals and making up the deficits from operations. Greenspan & co made comments over a year ago that they considered direct purchase of stocks to be an option to support the economy if things didn't improve. Well, we have seen since then that things haven't improved as evidenced by the further rate cuts and the more recent comments from fed figures concerning monetisation of debt. A visit to the websites for Federal Reserve, Office of the Public Debt, and observing the futures and pre market action just below major support lines are big clues that the federal govt is intervening to keep the markets up. This will all end very badly indeed.

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