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To: JRI who wrote (10397)	2/18/2001 11:24:57 AM
From: Raymond Duray	Read Replies (1) \| Respond to of 13572

but do you agree that the Naz should continue to be a good place to trade (nice volatility) up and down in the coming couple years? John Maynard Keynes famously said that any society that bases its financial future on the actions of a casino is doomed. So, no, I do not agree that it is a valid way to run an economy. As far as your individual gain, I'm ambivalent. There certainly will be more rather than less volatility in the future. The enabling legislation for single stock futures is in place: nytimes.com Single stock futures started trading on the LIFFE exchange in London on Jan. 29. This is yet another way for the sharp operators on Wall Street to beggar the retail patzer. So, if you want a future with extremes of uncertainty, greater anxiety, greater losses for the bulk of the investing community who have the foolish hope of saving for their future, then, sure, this brave new market we are creating is good. Good for gunslingers, those with a rare knack and especially for those with better information sources. The fact is, anyone who is clicking a mouse to make a trade is too late. The news has already passed through the trading floors at the NYSE, CBOT, CBOE, NYMEX and every proprietary trading desk at every wire house. The most recent example was the "surprise" attack on the Iraqi radar sites on Friday. The word of this attack spread throughout the trading floor at the NYSE at least 2 minutes before it hit the wire services and CNBC. So, if you are a retail speculator, you can fully expect your broker and his cronies to be front running you at every turn of the market. If you are part of that cabal, good for you, you have a license to print money. If you are not an insider, I'd have to wonder what sort of hope you have of beating those who are better connected and better informed than you. Or do you merely want to take advantage of the really slow elk in the market? Like this: Message 15369398 Best, Ray