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

To: Jack Clarke who wrote (14854)	3/15/1998 4:03:00 PM
From: Simon	Respond to of 18056

Jack: More evidence to support market manipulation.>>> My ears always pick up when manipulation is brought up. I have seen some program trades lately that have destroyed my charts for an hour or so. I have never been able to figure out exactly why these are done. I have heard explanations!!!! The S&P pit in Chicago is WILD. But leverage is $500,000 in stock for a stake of $ 10,000. May have changed some since I last checked. Trade a million dollars of stock for $ 20,000. Soros lost $900 million in 87 because he couldn't get out of his S&P futures. Old story "Who's going to buy them?" But U got the dough, U move the market. The Bond pit in Chi is so large, people on one side of the pit sometimes don't know what is going on on the other side of the pit. But it takes BIG money to move the bond market around. The market is sooooo large. Question: Is the Gov't trying to engineer a SOFT landing for the stock market? Hoping the economy will cool and different sectors will succum to lower earnings so that they all don't tank the same week! I am begining to think if something drastic happens. There are going to be a lot of people running the rails out of town.

To: Jack Clarke who wrote (14854)	3/15/1998 4:16:00 PM
From: Terry Rose	Read Replies (2) \| Respond to of 18056

Jack, Greenspan has already admitted that they will intervene in open markets to add liquidity to prevent a market meltdown. The 64,000 dollar question is can they as the market becomes more overvalued, and will they continue to intervene. If the global derivative market cracks, I don't think they will be able, due to it's size. The thing that drives me crazy is that Greenspan warned of overvaluation when the Dow was in the 6000's, and yet they intervened at 7800. The thing that is truly scary is the fact that people who are behind the derivative market don't understand it's dynamics. The current global derivative market is currently growing at 3 billion dollars a day. This 50 trillion dollar casino where the big boys place bets on interest rates, currency exchange rates, etc. is truly an accident waiting to happen. I keep waiting to see who will be the next derivative victim from the Asia currency turmoil, and in the next three weeks I think it will come from Japan. Terry,