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To: clochard who wrote (77326)11/30/1999 12:25:00 PM
From: MythMan  Read Replies (1) | Respond to of 86076
 
Message 12143877



To: clochard who wrote (77326)11/30/1999 12:46:00 PM
From: pater tenebrarum  Read Replies (2) | Respond to of 86076
 
Steve, i know that derivatives play an important role in fueling the rallies...they will be an equally strong driving force once the decline begins.
however, i wouldn't go as far as calling options the 'root cause'. they just add fuel to the fire, is all.
the root cause is the Fed's liquidity splurge, the massive credit creation of recent months and the seemingly unlimited pool of greater fools...

hb