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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: im a survivor who wrote (35414)	4/6/2001 2:23:52 PM
From: Nick	Respond to of 65232

The Games Hedge Funds Play By James J. Cramer 4/6/01 2:17 PM ET When the market dropped a little while ago, it seemed as if the wheels had fallen off the axle. It shocked people. The folks on television didn't have much of a handle on it. But Todd Harrison did. Right away he went into the Columnist Conversation and mentioned that he saw three sellers of the QQQs (QQQ:Amex - news - boards) at three different houses and then he speculated that they may have all been one seller pressing them down. That's the kind of information that can make you money, pronto. I think we forget how unbelievable it is to have real-time analysis by someone committing millions of dollars -- even if, at the moment, it might not necessarily be in his interest. (Notice, he is long QQQs and puts on QQQs. If he were straight long the QQQs you might be able to say that he is simply trying to buttress his position.) It makes tons of sense for a bearish hedge fund to go in with multiple orders to freak people out. The short side has been so great, you hate to have any selloff that actually leads to an up day. It could break the pattern of short squeeze spike and then a vicious decline that has prevailed for so long. In fact, I could see, if I were short, that I might want to do something unethical like going in with multiple orders to make it look like something is wrong. (There is a fomentation clause in the securities laws that forbids this, but it is lightly enforced.) I could then really spook it. If I didn't do it, the possibility of a rally today from these lows would be perceived as being a major change in the trend, as I can count on one hand how many times we have come back from declines intra-day. (Of course in the old, bullish days it used to happen all of the time.) So, let's see what the bears can do. They have the ability to knock down the QQQs without waiting for an uptick (they don't need the market to be going up to knock it down). I think that sometime between 2 p.m. and 3 p.m. the bears will really try to break this market. If they fail, and we get a break in the Chinese situation over the weekend, you will wish that you bought during their raid on the tape.

To: im a survivor who wrote (35414)	4/6/2001 2:32:26 PM
From: edamo	Read Replies (3) \| Respond to of 65232

keith..only trying to give you some real world local knowledge of sfe and icge....most stuff doesn't hit the papers....but regional bankers tend to talk....they are at the present levels for a reason....no different then a mutual fund that bought the wrong stocks for their portfolio.....one could be a tax shell for the other..sfe claims 4600 employees...building only big enough to hold a few hundred....guess they count all the eggs in the incubator.....they along with cmgi are the ultimate bubble scam.... elison, dell, gates actually make something and have profits to show for it.......put the proper perspective of a ceo losing a bil of his own money in investments....not a bill gates bil, but the only bil you ever had....such rash actions flow over to how a company is run...comes under the umbrella that is called "poor judgement and not in touch with reality"