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


To: Ted Downs who wrote (33445)2/26/2002 10:49:45 AM
From: Dave Gore  Read Replies (4) | Respond to of 99280
 
IRAQ RUMOR BROUGHT TO SURFACE AGAIN BY SHORTS - CNBC reporting that the rumor that U.S. troops were in Iraq came out the same time as the Consumer Sentiment number.

It's pretty clear that the shorts were using that rumor as a "double whammy" along with the consumer sentiment number to tank the market so they could make money on the downside and perhaps get long into some positions at better prices, too.

Made a buck in last few mintues on QLGC off lows on Market overreaction. It bounced right off 41.00, now over 42.



To: Ted Downs who wrote (33445)2/26/2002 10:50:03 AM
From: sylvester80  Read Replies (1) | Respond to of 99280
 
Come on! Even they can't be that stupid.



To: Ted Downs who wrote (33445)2/26/2002 10:51:50 AM
From: 4rthofjuly007  Respond to of 99280
 
That tank job may have showed the "whites of the MMs eyes" as Zeev sometimes puts it. This is a volatile, skittish market. Worse yet, it is seemingly pricing a very strong recovery. A traders market for sure, I can't see why one would hold stocks unless one is holding for the VERY long term.

And I don't mean until July.<g>



To: Ted Downs who wrote (33445)2/26/2002 10:51:57 AM
From: Steve Lee  Read Replies (3) | Respond to of 99280
 
I doubt that was the reason for the drop. More like the rumor was created by those trying to prop the market up, as an excuse. That way they would be sure of a retrace on the denial.