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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (19854)	9/3/1998 8:30:00 AM
From: Andeveron	Read Replies (1) of 50167

>> my feeling is that Globex is a highly manipulated market << Globex manipulation works both ways. After Monday's sell-off and market close, Globex was up strong and stayed strong through the night. After such a pummeling session, sentiment was broken and very edgy but Globex appeared like a bastion. At one point before Tuesday's open, S&P Futures were up 27 points. This served to encourage European markets that perhaps a turn-around was in the making in New York for Tuesday. Manipulation overnight is unclear as it may only reflect the negative sentiment that is roiling out there. The sell off in the last session came in hard and fast, and out of nowhere. However, I do agree that there is systematic manipulation of Globex to influence market open. Traders look to it for cues and support. It appears to be negative right now but things fluctuate quickly on Globex. Dow futures are now down 95 points and S&P Futures are down about 15. We may see a 300 point swing today.

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