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To: pater tenebrarum who wrote (90879)4/6/2001 11:36:02 AM
From: Andrew G.  Read Replies (1) | Respond to of 436258
 
Heinz: thanks for the clarification. If we close up today, then your 'closed system' theory is clearly at work.

It is hard to fathom a reason for a rally here other than automated program trading taking advantage of chart behavior and mass-psychology.

I see it even in the microcosm of this message board. The savvy traders here all know the fundamentals suck but are willing to hop aboard a rally at a moments notice if a trend develops.

We have gone from the 'greater fool theory' to the greater scalper theory of market trends !



To: pater tenebrarum who wrote (90879)4/6/2001 11:56:18 AM
From: Giordano Bruno  Read Replies (1) | Respond to of 436258
 
Stephen Roach kidding around...

He said he now expects annualized gross domestic product to shrink by 1.4 percent in the current quarter, followed by a 0.8 percent contraction in the July-September period.

biz.yahoo.com



To: pater tenebrarum who wrote (90879)4/6/2001 12:08:37 PM
From: re3  Respond to of 436258
 
<<<since the risk of obsolescence has to be priced in.

exactly. no one sees this.


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