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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Bonnie Bear who wrote (11123)	12/11/1997 11:17:00 PM
From: Simon	Read Replies (1) \| Respond to of 18056

<< Most brokerages have their own mutual funds so they have a huge amount of money to play with. >>> Geeeez Geramiah, I never thought of that. I knew there was a reason I took your class. ""Sound like something you see??? """. People keep rolling over to a later date at a higher cost. Reminds me of the 1st chicken I ever caught. Had an apartment in Germany and had a party. Bunch of chickens in the yard. We kept throwing corn kernels out in the yard, but closer and closer to the door. One chicken ventured inside looking for the next kernel. SLAM. <g>

To: Bonnie Bear who wrote (11123)	12/12/1997 3:13:00 AM
From: Kid Rock	Respond to of 18056

<<Most brokerages have their own mutual funds so they have a huge amount of money to play with that does not need instant accountability, it's easy to move a lot of money around in circles to create volatility.>> How much truth is there in this and to what scale??? I somtimes think this whole market/wealth creation thing is a big shell game being played out with big money.

To: Bonnie Bear who wrote (11123)	12/12/1997 12:17:00 PM
From: Tommaso	Respond to of 18056

The short component of BEARX (according to the September Annual Report's list) has just crossed into negative (bear-positive) territory. Was up (for bears:down) one percent or less since the opening. I don't have any idea what their options positions might be, except that they may be more heavily into S&P puts than they used to be. And they did have some long positions. These amount to about $7 million on Sept 30, or about 25% of assets. Further complications from options sold and a few shorts against the box. Since they were showing a loss from operations, I find it hard to believe that there should be any tax consequences for holders. But I will not be exploring this in any case (all holdings in IRA).