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

To: Zeev Hed who wrote (82579)	6/21/2002 7:27:22 AM
From: Earlie	Read Replies (6) \| Respond to of 99280

Zeev: The size of this bubble is historic and its deflation is already well underway. But, as you note, the government will do all in its power to endeavour to maintain confidence ("calm the natives"). Part of that process is to, above all else, maintain the stock market bubble, or at least allow it to deflate slowly and thus avoid a panic. The stock market's short term direction frequently follows the S&P 500 futures pit. For the last year or so, we have witnessed some truly remarkable machinations in that pit in the pre market environment. has this been the PPT in action or is it just some large funds trying to modulate the effects of overnight bad news? I have my own opinion, but that doesn't matter, nor is it important. What is important is that from time to time, very artificial forces are unleased, which have powerful short term effect. Recall the stunning impact on the stock market of Rubin's brilliantly executed "resignation", or Greenspan's "repayment" of the banks (through the stunning, non-telegraphed announcement of an interest rate change,..... during market hours). I have been warning about the inevitability of a fall in the U.S. buck, but even my bearish perspective has been awe-struck by how quickly the buck has cratered. Behind the scenes there has to be full-blown panic about this. Panicy people do wild things. I am up even "earlier" than usual this morning, digging through the usual cacophany of over-night news,..... and watching the "pre-market" futures with binoculars. By the way, all of this going on even as we complete a triple witch day........ fascinating. (g) Best, Earlie