something was strange about todays trading
maybe this explains it
(dont forget that Fed added liquidity today via 8 day and it was unexpected by some
and...Goldman still has to do their IPO)
+LG (23376 )
From: +Kip518
Wednesday, Aug 5 1998 7:55PM ET
Reply # of 23388
I agree, someone made it happen, just not the Fed. Please do not ask me who..
LG, Fleck answers:
Volatility doesn't adequately describe today's market action. As in days past,we
traded rallies with slides the better part of the day. With about 40 minutes left, the
Dow was off more than 120 points and the S&Ps down one and a half percent. In
the next 20 minutes the S&P futures rallied about three percent.
Goldman Sachs was seen as a buyer, and market rumormongers are always talking
about Goldman fronting for the famous plunge protection team - that is Rubin,
Greenspan and the boys. The existence of such a team is a fact that has been stated
publicly. Whether Goldman actually operates as the plunge protection team from
time to time, I really don't know. Conspiracy types seem to think it is true, and given
all the nonsense that is going on in the world, it wouldn't shock me.
stocksite.com
Sounds right to me. GS ain't going to let their little lady stand out there in front of
everybody with egg on her face (that's an okay look for ralphie, however)
Looks like I may have to reverse a bunch of shorts tomorrow. Kip |
