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Strategies & Market Trends : Tech Stock Options
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To: donald sew who wrote (57849)11/20/1998 9:28:00 AM
From: dennis michael patterson  Read Replies (1) of 58727
 
Don, in that PEI article I linked for Peggy, Martin Armstrong claims that LTCM was SHORT the SPX and LONG the DAX (both highly leveraged). Now the trades are being unwound (not to mention the bond trades in the UK and the mortgage-backed securities in Denmark) and that this explains the outperformance of the US mkt and the relative lack of recovery in Euroland (especially Germany). It's interesting to look to at the charts of SPX and DAX futures side-by-side. The picture confirms the claim Armstrong makes. Of course, it does not explain the causal explanation. He may be right. The bottom line is that the markets are quite dangerous. I have to admit to playing with fire myself, looking to make some money.
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