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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (41302)	2/25/2000 9:02:00 AM
From: Les H	Respond to of 99985

Moral Hazard or Mortal Hazard?...Moral now, mortal later. Is it moral hazard or blind, insatiable greed that is holding up the NASDAQ? (Probably both.) Each week seems to bring a new meaning to the term trading frenzy. It was only Tuesday of this week that we discussed the appearance of "certain someone's" showing up to save the day for the market. Well, we didn't have to wait too long for a replay. nce it looked like the Dow was seriously ready to crack the 10K barrier and the S&P was breaking its own Maginot Line this afternoon, the "certain someone's" showed up for a return engagement at the Levitation Room (where the only cover charge is purchasing futures). Miraculously, the Dow and the S&P came back up through critical levels with the Dow tacking on close to 200 points and the S&P almost 30 in the space of about 45 minutes. Unfortunately, the "certain someone's" left their fingerprints all over the scene of the crime - unchanged breadth throughout the entire ramp job. C'mon guys, next time don't make it soooo obvious, will ya? We still just can't comprehend how Greenspan and Company can watch what is happening with the "heart of the capital creation mechanism in America" and in good conscience keep pretending that everything's just fine. In fact, the only way we can see them allowing it to happen is simply with no conscience at all. Welcome to the new economy (where ethics can basically go to hell). larger article at contraryinvestor.com