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To: sun-tzu who wrote (124407)	9/20/2001 7:27:57 PM
From: pater tenebrarum	Respond to of 436258

they did yesterday. it was one big fund doing it....in the past, this led to a rash of short covering and buying by eager dipsters, thus providing additional momentum and lifting the market out of the hole. it ceased to work with the intervention of April 4 2000, but it is still occasionally tried. one of the reasons why it's not working anymore is that we're in a primary bear market. the other reason is that the shorts are not the traders anymore, who are holding record net long positions in the spoos basically since July of 2000. you can't panic the commercial hedgers who are short into short covering that easily.