Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (108362)	6/12/2001 7:53:50 PM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 436258

Fleck, on the source of today's "miracle rally"... Crafty Tape The early-morning lows were the lows for the day. We ground higher for a couple of hours and then, with about two hours to go, we began a ferocious melt-up that saw the S&P catapult about 3% in a few hours. Naturally, anything the S&P can do, the Nasdaq can do better. The Nasdaq climbed over 4%. The proximate cause was a rumor that Robert Stansky, who runs the Magellan Fund, was "upping his tech weighting." Now I don't know whether he is or isn't. But given the way he has been managing the portfolio, I find it laughable to believe that he would be increasing his position in tech now that bad news is coming in regularly once again and valuations continue to be outlandish. Lastly, if he was, I seriously doubt that he would want everyone to know about it. More likely, it was a rumor started and/or leaped on by people who wanted to see the tape go higher. As previously mentioned, we do have the Kraft deal to get priced tonight, and it's so much easier to price a deal when there's a little hype in the tape. Remember the day the Agere deal was priced? Sounds about right to me. Got jam?