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To: sammaster who wrote (29962)10/19/2000 7:28:26 PM
From: pater tenebrarum  Respond to of 436258
 
it almost certainly was driven by options. once puts that were itm get ootm, the short positions that were put on for delta hedging get unwound. and since the amount of outstanding put positions has risen markedly, the rally got an additional push.

the financial markets are ruled by derivatives...this has f*ck all to do with investing anymore...