Galapagos Islands Message Board

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Strategies & Market Trends : Galapagos Islands

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To: Jorj X Mckie who wrote (23338)	1/27/2003 8:28:16 PM
From: mishedlo	Read Replies (1) of 57110

I believe snap backs happen for two reasons. 1) unwinding of options 2) manipulations on light volume the crooks can get away with #2 if the volume is light. They may or may not delta hedge or may get trapped themselves and recover later IMO. These things are seldom perfectly hedged IMO. They just let things build to the breaking poing and snap it back. If they wait too long and panic sets in they can be screwed if they are not hedged. We had panic buying in oct and Nov but have not seen panic selling for quite some time (last sept). More than likely they are partially hedged short but if things get out of hand, they crooks just gap us up two days in a row on pathetic volume and "correct" the error. M

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