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To: ild who wrote (181094)	7/18/2002 12:28:45 PM
From: stan_hughes	Read Replies (8) \| Respond to of 436258

"they could have announced how wonderful IBM numbers were" IBM's numbers were wonderful, weren't they? ROFL Who's to really know, ild. If we are to believe all of JT's ramblings on the MITA thread based on his work with the data in Barron's, the WS specialists have been net buyers for months now. Probably force fed buyers, but buyers nevertheless. It's impossible to know how/where/if/to what degree they've hedged that. Quite frankly, I trust everybody's data a lot less than I used to. I've resorted to primeval techniques like putting my ear on the ground to listen for the sound of oncoming herds, and IMO this one is still headed south BWTFDIK. All I can say about the PPT is that: (a) I for one believe it exists (b) I believe they have been active in the market, despite all the official pronouncements to the contrary. I wouldn't expect them to admit it because doing so would run 110% counter to the notion of the US having the so-called "freest" markets in the world (c) that GS and MER have the type of 'ties that bind' via Rubin etc. that make them the most likely straw men for PPT activity, much the same way JPM has been the Fed's front man in the agenda to demonetize gold (d) that the FRB no doubt has ways and means far beyond my feeble comprehension to mask their activities, so I don't expect I'll ever be the guy to turn up a smoking gun (e) that PPT intervention in this market might serve to alter the steepness of the trajectory, but it can't change the direction or hold it back indefinitely Like I said, color me paranoid, I'm happier that way anyway