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To: dannobee who wrote (115)9/9/2002 8:34:27 PM
From: LPS5  Respond to of 2534
 
Danno,

The Y2K liquidity pump never even entered my mind as a contributing factor. Great point.

With regard to margin balances, Prechter has made the case that where today Reg-T is at 50% as compared to the 10% it saw in the 1920s, retail investors being able to control hundreds or thousands of shares for the slight premium that vanilla puts and calls command is mathematically akin to 10:1 or 5:1 leverage.

LPS5