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

To: Defrocked who wrote (10362)	11/24/1997 11:22:00 PM
From: bearshark	Read Replies (1) \| Respond to of 94695

Defrocked: I knew you would see it. It is a fascinating speech.

To: Defrocked who wrote (10362)	11/24/1997 11:23:00 PM
From: Joseph G.	Respond to of 94695

DF, IMHO, Globex is thin enough (except perhaps 1/2 hour before 9:30 am) even for a major institution to manipulate. Then again, if several of them have same idea, and one starts to buy, others may jump in. This is not to say that PPT can't do that, but they presumably have enough powder to intervene during trading hours. Joe

To: Defrocked who wrote (10362)	11/25/1997 1:01:00 AM
From: Richard J. Byrd	Read Replies (3) \| Respond to of 94695

Defrocked: I believe you are misreading the quote of AG as to the possibility of FED intervention in the market. After the '87 meltdown, the Fed made contingency plans to provide liquidity to banks and to private financial institutions to preserve orderly markets. This would prevent Fidelity from being forced to liquidate $1 Billion of equities into a badly falling market when their investors all run for the exit. I don't read this as direct market intervention. Dick