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To: marc ultra who wrote (11818)2/9/2000 12:27:00 PM
From: Allan Harris  Respond to of 15132
 
"Using a derivatives framework," say the authors, "the Fed's consistent pattern of providing liquidity during financial crises seems to be conditioning investors to believe that the Fed is writing them free, out-of-the-money 'put' protection on the market (and on other asset classes)."

Full James Grant article:

ft.com

A



To: marc ultra who wrote (11818)2/11/2000 12:54:00 AM
From: marc ultra  Read Replies (2) | Respond to of 15132
 
For you technical types. Is it 3 peaks and a dome that's suppose to be somewhat catastrophic and e.g. was seen just before the 73-74 bear. Looks like we had it just before the Dow started falling.

finance.yahoo.com^DJI&d=1b