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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: NOW who wrote (33556)	3/20/2003 7:16:19 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 57110

Meaning that I believe that the extent of the PPT is the Fed adding liquidity and jawboning and that the bulk of what is attributed to the PPT is natural market action. In a bear market you crash up, in a bull market, you crash down. I have no doubt that some of the traditional "members" of the PPT screw around with futures to get the market going in the direction that they want, but they are bound by common business rules as well. In other words, if Goldman jumped in a week ago Wednesday and starting buying the shit out of the market, that means that they have inventory. If they have inventory, then they want to distribute it eventually. So, at this point, if you assume PPT action last week, now you have to also assume that the PPT wants to get rid of it near the highs. And when they are done with their distribution, those PPT members are not going to want to buy high priced stocks. That means that they really want the market to go down so they can buy stuff cheap. lather rinse repeat