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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (37747)	12/9/2000 12:49:20 PM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 42787

PPT = Plunge Protection Team A much rumored and talked about agreement between Goldman Sachs and the government to intervene in the open market and prevent sharp drops. The only official documentation of such an arraingment is in the Federal Reserve minutes where GS is contracted to maintain commercial interest rates close to the Feds target by Bond intervention and an "emergency clause" where they are empowered to intervene in the open market ( futures/common stock) "to maintain orderly flow and demand". The way it all reads is they are only to be used for a 1929 type event however many have noted since 1997 at least, GS bids showing up and buying handfuls of SP00s and major weighted stocks if the market starts dropping at a rapid pace. GS usually also shows up on Sunday nights in the futures markets if GLOBEX is near limit down. A few major news agencies have made comments on them but they are still kind of a conspiracy black helicopters type thing that no one can prove for sure exists. Still, if you have Level 2 or 3 and we are in a multi-hundred point down day, watch and you will see them show up buying boatloads of the highest cap weighted stocks at crucial times and moving the indexes back up. They can be used to your advantage if you latch on and ride thier coattails for a few points. TM - Yes, we just need to see how long an affect the Bush vs Gore news will last. Gore may cause a temporary dip then a recovery and may not last thus it could be a buy opportunity. As Haim says, at least he has more brains, the market just thinks he wants to solve the problems of the world according to his view of the way things should be and doesn't realize he can't reinvent the corporate model without tipping a few things over in the meantime. Good Luck, Lee