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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (14111)	8/6/1998 2:24:00 PM
From: Teddy	Respond to of 42787

Anyone have CNBC on? Something to think about: Wrong! Dispatches from the Front: The 2 p.m. Short Pattern By James J. Cramer 8/6/98 1:51 PM ET Every day it has paid to put on a big short ahead of the 2 p.m. EDT CNBC programming. Every day. You see the pattern starting right now as the futures guys line up their shorts and the SPX put buyers come in with guns blazing. They put the shorts on now, probably with the knowledge that the programming will reflect the grim nature of the markets. Yesterday, this pattern failed. Others came in with real capital -- through Chicago, not New York -- and took the other side of the trade, smacking those who were betting that CNBC would take the market down. Do you think this is a paranoid fantasy? Hardly. Take a look at the Washington Post today: It tells you how important the CNBC phenomenon has become. So does USA Today's Money section. Both point out that the network has become instrumental to the market. Of course, they don't take it the next step and talk about this incredibly profitable bearish pattern. Will it lead to chaos today, as it has every day except yesterday? Or will it put an end to the free-money-for-the-shorts game that has prevailed for weeks on end? Stay tuned.