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To: $Mogul who wrote (2646)	2/1/2008 11:52:24 AM
From: Rarebird	Read Replies (1) of 26251

<<How manipulated the mkts are here.>> The Market has become dominated by program trading. That wouldn't be so terrible except for the fact that the same piece of news is being discounted again and again without regard to fundamentals. For example, if a rumor appears that says that bond insurers are having problems, program trades are triggered which can quickly plunge the Dow several hundred points in minutes. On the other hand, when a piece of good news, however unlikely or flimsy, appears, these same program traders buy back their basket short sales, again very indiscriminately and mechanically, sending those stocks in their basket soaring. The intraday market has become an electronic trading machine which generates large quantities of cash for large traders and for the brokers and exchanges who milk it. Yes, the markets are quite manipulated. However, an individual who is well capitalized can buy value and hold on for dear life till value is restored.

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