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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (26302)	2/2/2002 12:46:28 PM
From: s berg	Read Replies (1) \| Respond to of 99280

Mish, I have had the same worry as your Lane Lewis column. Puts on indexes (utilized by hedge funds and large investors/ commercials) are selling as if there is no tomorrow and the commercials, after weeks of increasing longs, reversed course and increased their net short position this week on SP. Could just be noise but I think it is noteworthy when commercials increase shorts rather then cover them during a high volume sell off week on the market. The fed has been pouring on liquidity via repos. The only day without repos recently the market tanked. My gut is that we were going to have Zeev's rally and then something happened that the fed knows but we don't know yet. It feels to me like the market is in the fed's intensive care unit on pressors, i.e. repos to keep its blood pressure / price stable (and VIX down?). On the other hand it is possible that we are just in a nervous trading range market and there is no "truth is out there" bombshell waiting. Who wants to go near a motionless bear to see if it is dead or hibernating. Mish said, Lewis column As I titled Tuesday's summary (“Something Is Different”), there are some peculiar things happening in the market right now, Tuesday's sudden and brutal selloff ahead of the Fed meeting being the first. It was as if someone was saying, “I know something.”