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To: yard_man who wrote (70578)2/22/2001 6:34:30 PM
From: pater tenebrarum  Read Replies (4) | Respond to of 436258
 
yes, they can only try to 'jump-start' rallies...running the stops put in by the shorts, and trying to lure the momentum players in. but many players have been simply knocked out of the market...all the day traders that played exclusively the long side on margin for instance - they're gone.
we'll get another surprise rate cut if the denouement continues and begins to affect the credit markets.
i'm not sure how the market would react to that though, aside from the initial bounce.
most macro news that are coming out of late are not too good...leaving aside today's misleading indicators...