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To: Jack of All Trades who wrote (30492)	10/23/2000 2:18:39 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

let's assume you're short. the spoos are halted limit down, and cash continues to drop like a rock. wouldn't you wait with your order to cover until they re-open? especially as they would normally immediately adjust lower? problem with watching MER and GS is that you never know if they act for their own account or for someone else's. but we have repeatedly seen strange situations, like e.g. the fully recovered BK of April 4. there was buying in the futures that was leaving no questions open...ALL offers were snapped up by the buyer(s). obviously this bought time for someone to get out, as the NAZ crashed in the following week instead. we have repeatedly seen the market gap down on serious high profile earnings warnings, only to recover magically during the day...and ALWAYS the recovery takes the shape of someone doing impact buying in the futures and key index stocks. there is simply too much fishy circumstantial evidence. note however that manipulation can not fight a primary trend successfully. IF the primary trend has turned from bull to bear, the stocks/futures bought up by the manipulators simply add to the supply later on. we can in any event guess that the authorities would not like to see a BK...a slow deflation of the bubble perhaps, but not a BK. leverage in the system has become so extreme, that a BK would result in grave systemic consequences imo...the whole paper pyramid would collapse.