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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: William H Huebl who wrote (64683)	7/9/2003 9:41:35 PM
From: Real Man	Read Replies (1) \| Respond to of 94695

This last rally was almost entirely driven by huge morning futures buy orders. Then it flops and chops to the downside. Which raises the question - who is buying the futures, and why? Could be the Fed. If so, market manipulation never works. May work for a couple of weeks, that's all. The interest rates are zero bound, so ... Mr. Fed is running naked. If expected second-half recovery does not materialize, things may get pretty nasty in a hurry, because of the expiration of Greenspan put.